Pullman Miami Airport luxury and lifestyle segment , increase of fees linked to the residential activity and a scope effect linked to the takeover of Potel & Chabot saw the luxury and lifestyle segment generating revenue of € 1.2 million . Group EBITDA soared 13 % from H1 2023 , driven by robust revenue , the operating leverage of the M & F activity and strict cost discipline in services to owners .
In H1 2024 , Accor opened 146 hotels totaling 24,000 rooms , posting net unit growth of 4.1 % over the last 12 months . By the end of June , Accor ’ s total portfolio encompassed 5,682 hotels , representing 838,722 rooms , and a pipeline of 1,297 properties , totaling 218,000 rooms .
For FY 2024 , Accor anticipates RevPAR to grow between 4 % and 5 %, while
EBITDA will range between € 1.1 million and € 1.1 million . The company anticipates a positive contribution of EBITDA by services to owners .
Sébastien Bazin , chairman and CEO , Accor
Extended-stay , conversion projects drive Choice Hotels ’ growth
W ith normalization of travel trends , domestic RevPAR for the second half of the year is projected to maintain its pace with the first half of 2024 and surpass 2019 levels by 10 percentage points , Choice Hotels President and CEO Pat Pacious remarked during the Q2 earnings call .
Aligning with the rising popularity for extended-stay hotels , Choice ’ s extendedstay brands have been posting strong performances and expanding its portfolios . Woodspring Suites brand expanded its unit
Everhome Suites is Choice Hotels ’ newest , midscale , extended-stay brand . count by 10 % YOY in Q2 . Choice observed a strong traction in Everhome Suites , its newest , midscale extended-stay offering . With four open hotels , Everhome Suites has 65 domestic projects in its pipeline , which includes more than 20 under construction .
Conversion projects have been driving Choice ’ s portfolio growth and helping launch new brands . About 36 % of Choice ’ s existing domestic pipeline comprises conversion projects and that has been the key driver at a time when interest rates are elevated , Pacious said .
With a global pipeline of 115,000 rooms ( up by 22 % YOY ), Choice set a record for the second quarter and executed 20 % more openings worldwide YOY . Overall , Choice ’ s domestic midscale rooms pipeline increased 7 % quarter-over-quarter to stand at over 23,000 rooms .
There ’ s been a reversion of locations where urban was among the last markets to make a rebound . That ’ s the area where Choice and its portfolio under-indexes , Pacious said .
The hotel franchisor reported sequential improvement in domestic RevPAR in Q2 , up from 2023 and pre-pandemic levels . However , the pace of acceleration was slower than the industry . Domestic pipeline soared by 11 %, with conversion rooms surging by 65 %.
Q2 total revenues touched $ 435.2 million , a quarterly record and a 2 % lift from the corresponding period in 2023 . EBITDA increased 6 % to a quarterly record of $ 161.7 million .
Pat Pacious , president and CEO , Choice Hotels International
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