Accor Hotels’ business rebounded significantly in the first half of this year after two years of major pandemic-related disruptions in the tourism and hospitality industry, officials say.
“In Q2 2022, activity recovered to levels close to, if not above, the 2019 levels in almost all of our geographies. The only laggards were China, which is impacted by travel restrictions as part of its strict enforcement of a “zero-Covid” policy, and South East Asia, which is highly dependent on Chinese visitors,” officials said.
This rebound reflects both the recovery of the number of business and leisure domestic guests, and border reopenings, which accelerated the return of international travellers, hotel executives said in an Accor financial statement. “It was accompanied by a sharp increase in prices, driven by demand and emphasized by inflation.
During the first half of 2022, Accor opened 85 hotels, representing 11,700 rooms for a net system growth of 1.8% in the last 12 months. At end-June 2022, the group had a hotel portfolio of 777,945 rooms (5,300 hotels) and a pipeline of 212,000 rooms (1,215 hotels).
The Accor Family includes 43 brands around the world, including Fairmont, Sofitel, M Gallery, Novotel, Mondrian, Ibis and others.
There are several pools to choose from at the Fairmont Kea Lani on Maui.
“Once again this quarter, Accor reported a very strong growth in business, exceeding pre-crisis levels for the first time,” said Sébastien Bazin, Chairman and Chief Executive Officer of Accor. “This marked rebound in all regions and for all of our brands.
“The summer will confirm these trends and the fall promises to be strong with the recovery of major seminars and conventions. Nevertheless, the Group remains attentive to the evolution of the geopolitical and economic environment. At this stage, the Group should report a strong growth in EBITDA, with a target of more than €550 million for the full-year 2022”.
