Hotels

Accor posts double-digit revenue growth in 2019

Accor has posted a 16% increase in revenues to €4m (£3.3m) for the full-year period ended 31 December 2019.

EBITDA was also up by 14.8% to €825m (£690m), which is in line with the target range of €820m to €840m announced by the group in October 2019.

Additionally, management and franchise revenue increased by 3.8% on a like-for-like basis to €1.2bn (£858m), which the group said “reflected growth in all its markets”.

The brand added a “record” 45,108 rooms (327 hotels) on an organic basis during the period, including 12,954 rooms (65 hotels) in the luxury segment. At year end, Accor had a portfolio of 739,537 rooms (5,036 hotels) and a pipeline of 208,000 rooms (1,206 hotels).

Sébastien Bazin, chairman and CEO of Accor, said: “The group delivered a record performance again for FY 2019. This is all the more outstanding against a difficult macroeconomic background and in light of our successful transformation, parallel to achieving growth.”

He added: “Today, Accor is more diversified than ever, and a fully asset-light group. Going forward, we will pursue the execution of our strategy, focusing on our roadmap and value creation for shareholders.

“While these are challenging times for China, our thoughts are with the Chinese people, our teams, our clients and our partners there.”

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