Accor: Strong H1 2024 Financial Results Driven by Hotel Expansion

Accor, a global hospitality leader, operates in over 110 countries, managing a broad portfolio of brands ranging from economy to luxury, including Sofitel, Novotel, Mercure, and Ibis. The group is renowned for its continuous expansion strategy, opening new hotels and growing in key markets across Europe and Asia.

H1 2024 Financial Results

Accor reported €2.677 billion in revenue for the first half of 2024, marking an 11% growth compared to the same period in 2023. The group's adjusted EBITDA rose by 13% to reach €504 million, reflecting strong performance despite global economic challenges.

This growth was mainly driven by increased demand in the premium and luxury segments, along with the expansion of its hotel portfolio. Accor added 146 new hotels during the semester, adding approximately 24,000 rooms and bringing its total to 5,682 hotels worldwide.

Business Dynamics and Expansion Plans

Accor continues to benefit from the post-pandemic recovery in the travel sector. RevPAR (Revenue Per Available Room) has significantly increased in key regions, particularly in Europe and Asia. However, the group remains cautious about challenges such as inflation and rising energy costs, which could impact profitability in the short term.

The company plans to continue expanding its hotel network in strategic destinations, while also investing in digitalization and its ALL loyalty program (Accor Live Limitless), which aims to strengthen customer engagement​.

Conclusion

Accor delivered strong financial results in H1 2024, driven by rising demand in high-end segments and a successful expansion strategy. With a positive growth outlook, the group is well-positioned to continue its global development amid an evolving business environment.

You will find attached to this article the presentation file for Accor.

Accor.pdf

Download PDF • 275KB