The French group Accor reported revenues of EUR 2,677 million for the first half of 2024, an 11% increase compared to the first half of 2023. This growth is divided into a 4% increase for the Premium, Midscale, and Economy division and a 22% increase for the Luxury & Lifestyle division.
According to the official report, Group EBITDA rose to EUR 504 million for the first semester of 2024, up 13% compared to the first semester of 2023.
“Once again in this first half, Accor recorded solid performance, in line with the medium-term outlook we presented to our investors last year. This demonstrates the strength of our model, the operational and financial discipline of our teams, and the pronounced dynamism of the group and its brands. Activity in the second quarter remained sustained across all regions and for all our brands, our development pace accelerated, and our leadership position in the luxury and lifestyle sector was further consolidated through major partnerships. These performances allow us to raise our RevPAR[2] target for 2024 and reaffirm our confidence in the Group’s strength and ambition. The coming weeks will also be marked by the Paris 2024 Olympic and Paralympic Games, for which Accor is a partner. For this unique event, our teams, mobilized for months, will put their expertise, passion for hospitality, and generosity at the service of the Athletes’ Village, the Media Village, and all visitors to our hotels, thus contributing to increasing France’s visibility worldwide,” stated Sébastien Bazin, Chairman & CEO of Accor.
The first half of 2024 confirms Accor’s growth outlook, as presented during the Capital Markets Day on June 27, 2023, and reiterated in recent results and revenue announcements.
In the first half of 2024, Accor opened 146 hotels, representing 24,000 rooms, which is a net unit growth of 4.1% over the last 12 months. At the end of June 2024, the Group had an active hotel portfolio of 838,722 rooms (5,682 hotels) and a pipeline of 218,000 rooms (1,297 hotels).
In Romania, Accor currently operates 21 hotels, totaling 2,333 rooms.
Frequently Asked Questions
What was Accor’s revenue growth in the first half of 2024?
Accor reported revenues of EUR 2,677 million, marking an 11% increase compared to the same period in 2023.
Which business division performed the best?
The Luxury & Lifestyle division saw the highest growth, with a 22% increase in revenue during H1 2024.
What is Accor’s current presence in the Romanian market?
As of mid-2024, Accor operates 21 hotels in Romania, offering a total of 2,333 rooms.