Accor Reports Solid First Half of 2024 Performance Aligned with Growth Targets

Accor announced strong financial results for the first half of 2024. Revenue increased by 11% to €2,677 million, while EBITDA rose 13% to €504 million. Earnings per share also grew by 11% to €0.90. These results align with the company’s medium-term growth targets.

The company saw a 6% increase in RevPAR compared to the first half of 2023. Net unit growth accelerated to 4.1%, resulting in 146 new hotels with 24,000 rooms. The Group now has a total of 838,722 rooms across 5,682 hotels.

Accor's geographical and segment diversification proved beneficial, driving solid demand across regions. The Americas led with a 12% RevPAR increase, owing to strong event calendars, while the Middle East and Southeast Asia also posted double-digit growth. However, challenges persisted in China and the Pacific regions.

The Luxury & Lifestyle division showed an 8% rise in RevPAR, driven by higher occupancy rates and increased fees linked to residential activities. The Premium, Midscale, and Economy division posted a 4% revenue increase.

CEO Sébastien Bazin highlighted Accor's robust model and operational discipline. The Group raised its RevPAR target for 2024 and expressed confidence in achieving its growth ambitions, buoyed by upcoming events like the Paris 2024 Olympic Games.