Accor records a Group Revenue of €824 million in first-half 2021

Prepared for the rebound, Accor has reported a Group revenue of €824 million and a net profit back to positive at €67 million. Consolidated the Group reported first-half 2021 revenue of €824 million, down 6 per cent like-for-like versus H1 2020. The group also opened 121 hotels during the first-half, representing 15,000 rooms which suggests net system growth of +1.9 per cent over the twelve-month period. It expects a net system growth in the low range between 3-4 per cent.

Consolidated RevPAR posted an overall decline of 60 per cent in H1 2021 compared with H1 2019 and of 58 per cent in Q2 2021 versus Q2 2019. In the India, Middle East, Africa & Turkey (IMEAT) region, RevPAR was down 44 per cent in Q2 2021. On the results, Sébastien Bazin, Chairman and Chief Executive Officer, Accor said, “Since May, we have seen a clear recovery. Positive signs including the ramp up of vaccine roll out and the progressive reopening of borders will continue throughout the summer. Furthermore, we continued to efficiently and cautiously manage our liquidity and investments. It is still too early to fully define the outlook for the end of the year, but we are confident in our ability to capture recovery in all geographies and to put into place a reinvented vision of travel.”