Accor’s Deputy CEO & CFO, Jean-Jacques Morin, provides highlights in 2 minutes of Accor’s 2020 financial results.
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: implementation of a new streamlined and agile organization, a merger with Ennismore through the creation of a dedicated entity comprising 12 unique hotel brands, and the signing of a strategic partnership with the Faena brand.
- 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.”
- Against the unprecedented backdrop of the global health crisis, RevPAR was down 62.0% 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.
- Nevertheless, we 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% in Q2). The new restrictions implemented by European governments in response to the resurgence of the epidemic in the last quarter halted the summer recovery. Consolidated RevPAR was down 66.2% in Q4 and RevPAR in Europe was down 73.1%, while the gradual recovery continued in other regions.
- During full-year 2020, Accor opened 205 hotels, i.e., 28,942 rooms, confirming the appeal of the Group’s brands to hotel owners. 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% in emerging markets.
- As of December 31, 2020, 82% of Group hotels were open, i.e., more than 4,000 units.
Accor is a world leading hospitality group consisting of more than 5,000 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry’s most diverse and fully-integrated hospitality ecosystems encompassing luxury and premium brands, midscale and economy offerings, unique lifestyle concepts, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor also boasts an unrivalled portfolio of distinctive brands and approximately 300,000 team members worldwide. Over 65 million members benefit from the company’s comprehensive loyalty program ALL – Accor Live Limitless – a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 – Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACRFY) in the United States. For more information visit group.accor.com or follow Accor on Twitter and Facebook.