Accor has shown strong growth and resilience despite a complex geopolitical environment.
- The French hospitality giant reported record-breaking earnings, with EBITDA surpassing €1 billion for the first time.
- In response to this success, Accor returned €676 million to its shareholders over the year.
- The company expanded significantly in 2023, opening 291 new hotels, and continues its ambitious pipeline.
- CEO Sebastien Bazin expressed confidence in the company’s ability to leverage upcoming global events for future growth.
Accor has demonstrated substantial growth and resilience in the face of a complex geopolitical landscape. The company’s exceptional performance in 2023, marked by record-breaking earnings, underscores its strategic capabilities.
The hospitality giant achieved a milestone, with its earnings before interest, taxes, depreciation, and amortisation (EBITDA) exceeding €1 billion for the first time. This significant financial achievement reflects the post-Covid recovery and robust demand across all regions and market segments.
Capitalising on this momentum, Accor returned a total of €676 million to its shareholders, showcasing the company’s financial discipline and commitment to shareholder value. This substantial distribution was made possible due to the consistent strong performance throughout the year.
Accor’s expansion efforts were notable in 2023, with the opening of 291 new hotels, adding approximately 41,000 rooms to its global portfolio. This 2.4% growth is indicative of the company’s strategic focus on expanding its footprint and enhancing its brand offerings.
Looking forward, CEO Sebastien Bazin conveyed optimism about the future, buoyed by the prospect of major international events in 2024. Bazin’s confidence in Accor’s capacity to harness these opportunities for continued expansion highlights the company’s proactive stance in the global hospitality industry.
Accor’s robust growth trajectory and strategic initiatives position it well for leveraging upcoming global events in 2024.
