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Accor has reported that revenues in the first half of the year hit €2.4bn (£2bn), up by 35% against the prior year, and has now raised its full-year guidance following a period of strong trading.
The group said revenue growth over the period breaks down into a 34% increase for its Premium, Midscale and Economy division and 40% for its Luxury and Lifestyle division.
It comes as the group noted business trends in Q2 were solid across both divisions. Hotel demand from both leisure and business guests remained buoyant, reflected in the improvement in occupancy rates and a sustained increase in average room rates.
Meanwhile, consolidated EBITDA stood at €447m (£384m) in H1, more than double the figure reported in the first half of 2022.
The group said these results have enabled it to now raise its full-year EBITDA guidance. Growth in RevPAR is now expected at the top end of the 15-20% range, and consolidated EBITDA is expected to be between €930m (£799m) and €970m (£833m). It was previously expected to be between €920m (£790m) and €960m (£824m).
Sébastien Bazin, chairman and CEO of Accor, said: “Half-year activity growth was very strong across all of our brands and markets. These good performances are underpinned by the rigorous execution of our strategy, the attractiveness of our brands and the commitment of our teams.
“This momentum should continue for the coming months, driven by robust demand in both leisure and business tourism. The performance enables us to raise our 2023 guidance and to continue investing in our brands, talents and digital tools”.
