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Hotel giant Accor has hailed a “significant rebound in activity” during 2021 as it retuned to profitability in 2021.
For FY21 Accor reported a return to positive EBITDA of €22m (£18.3m) up from a loss of €391m (£325m) the previous year. It also reported consolidated revenues of €2.2bn (£1.83bn), up 34% like for-like (LFL) versus FY 2020. By activity, it said this breaks down into a 36% increase for Hotel Services and 29% for Hotel Assets and Other.
It also revealed consolidated RevPAR remains 46% down overall in 2021 versus FY 2019. Accor said this reflects an environment “disrupted by the resurgence of the Covid-19 pandemic”, despite a marked improvement in global business levels from April 2021.
In the United Kingdom, RevPar was down (49)% in FY 2021 compared with FY 2019.
During 2021, Accor organically opened 288 hotels, representing 41,000 rooms, resulting in a net growth in the network of 3% over the 12-month period. At the end of December 2021, the group had a hotel portfolio of 777,714 rooms (5,298 hotels) and a pipeline of 214,000 rooms (1,218 hotels).
Sébastien Bazin, chairman and CEO at Accor, said: “Despite a disrupted start of the year due to overall health restrictions, 2021 showed significant improvement in our business, as of the spring, with trends picking-up month after month right up to December. Our solid performances were achieved owing to the strength of our brands, our financial discipline and the sterling efforts of our teams who, throughout the year, demonstrated determination, tenacity and generosity.
“Thanks to their mobilisation, we emerge stronger from this crisis and have gained market shares in all our key regions. Moreover, our pipeline continues to flourish, with Luxury and Upscale segment representing close to 40% of future openings, a 12-point increase in the past four years.”
He added: “As the desire to escape and to resume travelling has never been stronger, we are well underway to make the most of this rebound in all our markets. In 2022, we will continue to unfold our vision of ever-more experience-driven and sustainable tourism, facilitated by digital technologies. Armed with these strengths, we are confident in our capacity to enduringly continue creating value for our partners as well as our shareholders.”
