Major 2024 international events set to fuel further Accor growth

Accor set new operating and financial performance records driven by “resolutely solid demand” in 2023.

The French hotels and hospitality group signalled confidence in prospects for this year due to major international events as it reported annual profits [ebitda] up 49% to exceed a record €1 billion.

All regions and segments achieved strong growth after 2022 was marked by post-Covid pandemic recovery. 

The solid performance and confidence in continued business growth enabled the group to return a total of €676 million to shareholders during the year, the company said.

Accor opened 291 hotels, corresponding to 41,000 rooms last year, representing a growth of 2.4%.

The group ended the year with 5,584 hotels with 821,518 rooms and a pipeline of 225,000 rooms at 1,315 hotels. 

Chief executive Sebastien Bazin said: “Accor generated record-high results in 2023, with EBITDA breaking the €1 billion mark for the first time in its history. 

“While there were numerous reasons for this success, the solid performances were above all attributable to the Group’s teams. 

“I would like to thank them for their commitment and their know-how in an industry whose strength lies above all in the women and men on the ground daily who raise the profile of our brands with a passionate and generous sense of hospitality. 

“Over the past year, the group achieved growth in all segments and geographies, illustrating the strength of its asset light model, the efficiency of its organisation based on the two divisions, premium, midscale and economy on the one hand, and luxury and lifestyle on the other, the desirability of its brands, the strength of its distribution and loyalty tools, as well as its financial discipline.”

He added: “While the geopolitical backdrop remains complex, 2024 is set to be rich in major international events which should continue to fuel growth and we start this new year with confidence. 

“Accor is ideally positioned to continue its bold expansion and bring to life its vision of a pioneering, responsible hospitality industry that creates value for its shareholders and its partners.” 


Share article

View Comments

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.