Accor posts strong first half performance and strategic growth

Accor has delivered a strong performance in the first half of 2024, aligning closely with its growth targets. The Group’s revenue reached €2,402 million, marking a 28 per cent increase from the same period in 2023. This surge is attributed to robust demand across all regions and a favourable pricing environment.

The group’s recurring EBITDA stood at €447 million, demonstrating a 46 per cent year-on-year increase. This growth was driven by strong revenue performance, coupled with effective cost management.

It recorded a net profit of €265 million, a significant rebound from the €68 million net loss in the first half of 2023 along with a 19 per cent increase in RevPAR, driven by both higher occupancy rates and increased average room rates. The Group's development pipeline remains robust, with 1,240 hotels and 214,000 rooms under development.

Sébastien Bazin, Chairman and CEO of Accor, stated, "Our solid performance in the first half of 2024 demonstrates the effectiveness of our strategy and the strength of our brands. We remain focussed on delivering sustainable growth and value for our shareholders.”