Accor reports record-breaking financial performance in the last year – Business Traveller

Accor has released reports of its financial performance in 2023, and it has revealed a record-breaking EBITDA of more than €1 billion for the first time in its history, marking a 49% increase from the year before. The world-leading French hospitality company’s revenue-per-available-room grew by 23% more than in the previous year, while their overall revenue was up by 20%, reaching €5,056 million. Meanwhile, at €63 million, the company’s net profit group share went up by 57%.

In the Middle East, Africa & Asia-Pacific region, there was a 19% increase in RevPAR, while South-East Asia saw a comparable rate of growth. Other regions witnessing notable growth include France, the UK, Germany, and the Americas. In 2023, Accor was also awarded an impressive “A” rating by the CDP for their proactive focus on sustainability and steps taken towards addressing climate change, making them one of only 141 companies worldwide to receive this accolade.

“While there were numerous reasons for this success, the solid performances were above all attributable to the Group’s teams. I would like to thank them for their commitment and their know-how in an industry whose strength lies above all in the women and men on the ground daily who raise the profile of our brands with a passionate and generous sense of hospitality. Over the past year, the Group achieved growth in all segments and geographies, illustrating the strength of its asset light model, the efficiency of its organisation based on the two divisions, Premium, Midscale and Economy on the one hand, and Luxury and Lifestyle on the other, the desirability of its brands, the strength of its distribution and loyalty tools, as well as its financial discipline,” said Sébastien Bazin, chairman and chief executive officer of Accor.

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Reflecting the resilience of the travel industry and showcasing the bounce-back from 2020’s COVID-19 pandemic and its residual effects, these positive results indicate a bright outlook for 2024 and beyond. Accor is optimistic about the year to come, expecting around 1.5 billion international travellers in 2024, and the company remains committed to achieving sustainable growth for the future with plans to continue expanding its portfolio and improving operations across its existing projects.

“While the geopolitical backdrop remains complex, 2024 is set to be rich in major international events which should continue to fuel growth and we start this new year with confidence. Accor is ideally positioned to continue its bold expansion and bring to life its vision of a pioneering, responsible hospitality industry that creates value for its shareholders and its partners,” said Bazin.

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