Accor books record results in 2023 / EBITDA breaks €1 billion mark

Accor reported record full-year results for 2023, with EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) exceeding €1 billion for the first time. This success is due to strong performance across all segments and regions, supported by an effective asset-light model, attractive brands, powerful distribution and loyalty tools, and financial discipline. Despite a complex geopolitical environment, Accor is optimistic about continued growth in 2024, driven by major international events. The company remains focused on sustainable and responsible hospitality, with significant investments in luxury and lifestyle segments and a strong focus on shareholder value and partner relationships.

Sébastien Bazin, chairman and ceo of Accor: "While there are numerous reasons for this success, this solid performance was mainly due to the Group's teams. Because in our sector, the strength lies above all in the individuals on the ground who profile our brands every day with a passionate and generous sense of hospitality."

RevPAR

• The Premium, Midscale and Economy (PM&E) division grew its RevPAR by 12% compared to Q4 2022, still driven more by pricing than occupancy growth.
• The Luxury & Lifestyle (L&L) division reported an 8% increase in RevPAR compared to Q4 2022, mainly due to higher occupancy.

Turnover

• Premium, Midscale and Economy generated revenue of €2,960 million, an increase of 17% LFL compared to 2022. This increase reflects solid activity levels over the period.
• Luxury & Lifestyle generated revenue of €2,175 million, an increase of 22% LFL compared to 2022. This increase also reflects the solid level of activity during the period, as was the case for the Premium, Midscale and Economy divisions.
• The Group reported revenue of €5,056 million in 2023, up 18% on a like-for-like (LFL) basis compared to 2022.

EBITDA

• The Premium, Midscale and Economy division generated EBITDA of €750 million, an increase of 35% LFL compared to 2022.
• The Luxury & Lifestyle division generated EBITDA of €354 million, up 82% LFL from 2022.

Net profile

• Net profit, Group share, was €633 million in 2023, compared with €402 million in 2022.