Accor shows improvement in Asia, Middle East & Africa and South America in Q4
Accor saw signs of significant recovery in all regions in the third quarter, with a strong summer season in Europe, after the low point seen in the second quarter (RevPAR down 88.2 per cent in Q2).
Against the unprecedented backdrop of the global health crisis, RevPAR was down 62 per cent in 2020. This marked decline reflects the dramatic deterioration in the industry linked to the spread of the Covid-19 virus worldwide, as well as lockdown measures and border closures implemented by governments throughout the world.
Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said, “In 2020, the hotel industry navigated an unprecedented crisis. In response to the pandemic, Accor, its employees and its owners made an extraordinary effort across the globe to support those most affected, continuing to uphold their values of generosity, hospitality and sharing. At the same time, the Group’s rollout of measures to protect its financials was quick and disciplined. The measures delivered benefits over the second half of the year, and helped to limit the impact of the health crisis. The Group also continued with the rollout of large-scale initiatives to plan ahead for the economic recovery and consolidate its leadership position in lifestyle.”
Bazin further added, “In 2021, while the vaccine is ensuring a gradual rebound in tourism—largely driven by leisure guests—Accor is ideally positioned to benefit from the recovery and press ahead with its roadmap.”
During full-year 2020, Accor opened 205 hotels. At year-end 2020, the Group had a hotel portfolio of 753,344 rooms (5,139 hotels) and a pipeline of 212,000 rooms (1,209 hotels), of which 73 per cent in emerging markets.
As of December 31, 2020, 82 per cent of Group hotels were open. Consolidated full-2020 revenue totalled €1,621 million euros, down 54.8 per cent like-for-like and down 60 per cent as reported compared with full-year 2019.
Accor’s transformation towards an asset-light model has changed the geographical exposure and nature of this segment. It is currently driven mainly by Asia-Pacific, which includes the Strata businesses (room distribution and management of common areas), Accor Vacation Club (timeshare business) and AccorPlus (discount card program).
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