Accor revenue slips in first half of financial 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.

Sébastien Bazin, chief executive of Accor, said: “Since May, we have seen a clear recovery.

“Positive signs including the ramp up of vaccine roll out and the progressive reopening of borders will continue throughout the summer.”

He added: “In the first half of the year, Accor significantly improved its operating performance.

“Furthermore, we continued to efficiently and cautiously manage our liquidity and investments.

“We are therefore prepared for the rebound with a solid balance sheet and an increasingly agile and efficient organisational structure.

“It is still too early to fully define the outlook for the end of the year, but we are confident in our ability to capture recovery in all geographies and to put into place a reinvented vision of travel.”

At the 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.

Source : Breakingtravelnews