The French hotel group Accor posted a net profit of 32 million euros in the first six months of 2022.
The world number six in the hotel industry even found a turnover in the second quarter which “exceeds its pre-crisis levels for the first time”, he announced on Thursday.
The group has set itself a target for gross operating surplus (Ebitda) ‘over 550 million euros’ for the current financial year, taking advantage of ‘a marked rebound in all our regions and for all our brands’, said CEO Sébastien Bazin, quoted in the press release. The turnover of the group, which owns brands such as Ibis, Sofitel, Novotel, Mercure or Pullman, increased by 109% to 1.72 billion euros in the first half of 2022, and the gross operating surplus s stands at 205 million euros (it was negative at -120 million euros a year earlier).
But at constant scope and exchange rates, turnover remains down 10% compared to the pre-health crisis, specifies Accor. “The first half of 2022 was marked by a significant rebound in the group’s activity following two years of health crisis which have heavily affected the tourism and hotel industry”, comments Accor.
In particular, the second quarter made it possible to “find levels close to or even higher than those of 2019 in almost all of our geographies”, he indicates. Revenue per available room (RevPAR), the hotel industry’s flagship indicator, fell another 11% in the first half, but was up 1% in the second quarter, compared to the pre-health crisis.
The main division, HotelServices – i.e. its core business, the services that Accor delivers to owners of hotels under the group’s brand – saw its turnover increase by 134% in the first half, to 1.27 billion euros, compared to last year. However, at constant scope and exchange rates, HotelServices revenue remains down 12% compared to 2019.
Only China, “impacted by travel restrictions linked to the strict application of a + zero-Covid + policy, and Southeast Asia, very dependent on Chinese customers, are lagging behind”. This recovery, which ‘is accompanied by a sharp rise in prices, driven by demand and accentuated by inflation’, is boosted by both the return of business and domestic leisure customers, and by ‘the reopening of borders, resulting in an acceleration of the recovery of international customers,” says Accor.
In the first half, Accor opened 85 hotels corresponding to 11,700 rooms, representing growth of 1.8% over the last 12 months and forecasts +3.5% for the current financial year. Present in 110 countries, with 5,300 hotels, 10,000 restaurants and bars and more than 40 brands, Accor has some 230,000 employees.
/ATS
