Accor reports show decreasing revenue in first half of 2021

Published on : Friday, July 30, 2021

Accor has reported consolidated revenue of €824 million for the first half of 2021. The figure is six per cent down on a like-for-like basis when compared to the first-half of last year, but 53 per cent down on the same period of 2019.

RevPAR fell by 60 per cent against the first six months of 2019. The company said the decline masks very mixed situations by country. Certain regions experienced a remarkable improvement from the first quarter of the year, while others continued to be hard-hit by government restrictions linked to the Covid-19 health crisis.

As of June, the group had a portfolio of 762,000 rooms spread across 5,199 hotels and a stable pipeline of 211,000 rooms in 1,203 hotels. As of July 26th, 93 per cent of Accor hotels were open.

Sebastien Bazin, Chief Executive, Accor said in a statement that since May, the company have seen a clear recovery. He said that positive signs including the ramp up of vaccine roll out and the progressive reopening of borders will continue throughout the summer. He shared that in the first half of the year, Accor significantly improved its operating performance and continued to efficiently and cautiously manage liquidity and investments.

He also shared that Accor is prepared for the rebound with a solid balance sheet and an increasingly agile and efficient organisational structure. He concluded that it is still too early to fully define the outlook for the end of the year, but the company is confident in its ability to capture recovery in all geographies and to put into place a reinvented vision of travel.

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