LE-DIGIT
T IN 2023
CONSOLIDATED REVENUE The company reported Q1 2023 revenue of € 1,139 million ($ 1,255.6 million ), which was up 54 % like-for-like . By activity , this growth means a 71 % increase for Management & Franchise , 60 % increase for Services to Owners and 37 % rise for Hotel Assets and Other .
In terms of division ( except Holding & Intercos ), Accor generated € 681 million ($ 750.71 million ) from the premium , midscale and economy division , which was up 62 % LFL compared to Q1 2022 , and € 477 million
The Sequana Tower in Issy-les- Moulineaux , a suburb of Paris , is the headquarters of Accor .
($ 525.83 million ) from the luxury and lifestyle unit , up 52 % LFL .
Consolidated RevPAR continued its sequential climb , up 57 % from Q1 2022 and 19 % from Q1 2019 . The premium , midscale and economy unit saw RevPAR increase by 60 % from Q1 2022 , driven by recovery in occupancy on top of continued strong pricing power .
Europe and North Africa witnessed a 54 % rise in RevPAR compared to Q1 2022 .
RevPAR stayed solid in France , which constitutes 46 % of the room revenue of the region , helped especially by the return of international travelers to Paris . Notably , revenue was not greatly impacted by the strikes in March .
Accounting for 13 % of the region ’ s room revenue , the U . K . posted significant RevPAR growth also aided by the recovery of tourism in London .
Germany ’ s RevPAR , 13 % of the region ’ s revenue , stayed low since November 2022 , reflecting the seasonal nature of trade fairs and congresses . However , the improvement relative to Q1 2022 was noticeable as the country eased its health restrictions in April 2022 .
RevPAR in the Middle East Asia-Pacific region saw an improvement of 69 % from Q1 2022 , thanks to the rebound in travel activity in Asia .
Overall business activity remained strong in the Middle East , representing 27 % of room revenue in the region . The strong recovery in religious pilgrimages to holy cities in Saudi Arabia offset the sequential slowdown after the FIFA World Cup in Qatar . Accounting for 28 % of room revenue of the region , the Pacific ’ s business activity was comparable to the las three quarters with significant momentum in leisure destinations driven by prices .
South-East Asia , which constitutes 27 % of room revenue , benefited from the return of international travelers , especially to Thailand and Indonesia .
Business recovered strongly in China since the Chinese New Year at the end of January , representing 18 % of room revenue . Accor sees great improvement potential to return to the 2019 business levels .
The Americas region , which mostly reflects the performances of Brazil ( 64 % of the region ’ s room revenue ) for the premium , midscale and economy division , maintained good business activity levels , with RevPAR climbing 49 % compared to Q1 2022 . With the region having returned to 2019 levels early in 2022 , the base effect is less favorable .
RevPAR of the luxury & lifestyle division surged 50 % from Q1 2022 . While mostly led by price , occupancy increase is now improving performance . Since recovery in this division was faster than the rest of the portfolio , RevPAR growth was affected by a less favorable base effect .
Constituting 78 % of room revenue in the division , luxury saw its RevPAR soar 55 % from Q1 2022 . This was fueled mostly by a YOY rise in occupancy rate , but improvement potential remains in this respect as the occupancy rate stayed 6 percentage points lower than in 2019 .
Lifestyle RevPAR posted a 33 % increase from Q1 2022 . The weaker performance of this segment reflects a less favorable base effect as the segment saw the most substantial recovery at the end of the crisis .
June 2023 hotelsmag . com 23