With revenue per room (RevPAR) up 23% over the year, sales up 20% to exceed 5 billion euros, and gross operating profit topping the billion euro mark for the first time in its history, 2023 will have been a year to remember. more than profitable to the Accor group. The two divisions created last year, the Premium, Midscale and Economy division (+17%) and the Luxury & Lifestyle division (+22%) each contributed to these exceptional results. " Exceeding what we expected in the middle of last year" said Sébastien Bazin, CEO of the French group.
Like the other heavyweights in the global hotel industry, the leader in Europe, as in almost all regions of the world except North America and China, benefited froma request resolutely solid" last year. While occupancy is still slightly down by 3 pts on the pre-pandemic period (66.0 % compared with 69.3 % for 2019), fares are continuing to rise steadily (+11.81 %). This rise in average prices, which has been evident for several months, offsets the few air pockets that still exist on the demand side, notably the less favourable situation in certain markets such as Germany and South-East Asia, and a limited number of Chinese customers.
While these difficulties have tended to ease in the last few months of the year - in the last quarter of 2023, South-East Asia saw RevPAR growth comparable to that of the Middle East, one of the most dynamic regions - the French group sees good prospects for the future. room for improvement in the current year. International tourism is expected to exceed the 1.46 billion travellers reached in 2019, with a forecast of 1.49 billion international tourists in 2024.
The upturn in tourism in the Asia-Pacific region, the gradual return of Chinese customers, major events in Europe with the Euro football tournament in Germany, the America's Cup in Barcelona and, of course, the Olympic Games in Paris: these are just some of the factors that will strengthen the overall dynamic, with the expected growth in business travel adding to the outlook. Hence a certain optimism while the economic context - inflation, interest rates - is also tending to improve. " While the geopolitical context remains complex, 2024 promises to be rich in major international events that should continue to fuel growth, and we are entering this year with confidence." explains Sébastien Bazin.
But, above all, the growth prospects do not stop at the current year. Accor has reiterated its target of annual RevPAR growth of between 3% and 4% over the period 2023-27. This sustainable growth will be underpinned by the expansion of the global middle class and the continued development of international tourism. According to Sébastien Bazin, " demand is expected to grow by between 4% and 6% per year over the next ten years, while hotel supply will only increase by between 1.5% and 2% over the same period. Or demand growing at three times the rate of supplycompared to twice in the last 20 years" . " A quantum leap "The CEO of Accor believes that the major groups will be the first to benefit from this ". their ability to capture this additional customer base through CRS tools and loyalty programmes. We have some very good years ahead of us" .
At a time when the future of global tourism can only take an eco-responsible direction, the Group has almost achieved its CSR ambitions with theelimination of single-use plastics in 79% of its hotels - against a target of 80% -, the presence of 42% of women in management positions, and 90% of its 300 largest hotels launched into precise measurement of food waste, a prerequisite for better management in the future. Another measurement tool, that of energy consumption and CO2 emissions, is taking longer to put in place, and is currently being deployed in 60% of hotels, against an initial target of 85%.
