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The timeframe for unlocking the benefits on the income statement remains unchanged: EBITDA should benefit from a positive impact of more than €70 million in full-year 2021. The different initiatives making up the RESET recurring cost savings plan, presented on Augand on Februwere confirmed. This segment now includes New Businesses (concierge services, luxury home rentals, private sales of hotel stays and digital services for hotel owners) which continue to be affected in different ways, ranging from the severely affected businesses directly related to the Travel sector, such as onefinestay’s private home rentals, to the digital businesses, such as the services provided by D-Edge.Īt end-September 2021, this segment, which includes owned and leased hotels, represented 124 hotels and 24,395 rooms.Ĭonfirmation of recurring cost savings as part of the RESET plan amounting to €200 million While the performance of this segment was held back by new lockdowns in Australia, the very strong recovery of hotels in Egypt and in Turkey eased the impact of this decline compared with 2019. Revenue in the “Hotels Assets and Other” segment was up 57% versus 2020 and down 38% like-for-like from Q3 2019. The smaller decline in revenue reflects solid activity enjoyed in the United States compared with the Group average.

Services to Owners revenue, which includes the Sales, Marketing, Distribution and Loyalty division, as well as shared services and the reimbursement of hotel staff costs, came to €288 million in the third quarter of 2021, down 40% compared with 2019. (1) Like-for-like: at constant scope of consolidation and exchange rates. To provide a comparison with RevPAR (presented as the change versus Q3 2019 throughout this release), the like-for-like decline in revenue versus Q3 2019 is 40%. This increase amounted to 94% for HotelServices and 57% for Hotel Assets & Other. (5,252 hotels) and a pipeline of 211,000 rooms (1,187 hotels).ĭuring Q3 2021, the Group reported revenue of €589 million, up 79% like-for-like (LFL) versus Q3 2020. The Group is aiming for net system growth of around 3% on a full-year basis in 2021.Īt end-September 2021, the Group had a hotel portfolio of 769,000 rooms

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€7 million, largely due to the full consolidation of sbe since Q4 2020.Ĭurrency effects had a negative impact of €5 million, mainly due to the US dollarĭuring the third quarter, Accor opened 82 hotels, representing 10,000 rooms, i.e., net system growth of +2.5% over the last twelve-month period. Group revenue for the third quarter of 2021 came in at €589 million, up 79% as reported, and 79% like-for-like versus Q3 2020 (i.e., -40% compared with Q3 2019).Ĭhanges in the scope of consolidation (acquisitions and disposals) contributed a positive September and October confirmed the return of business travellers and some MICE activity. Over the quarter, the strong demand translated in higher prices than in Q3 19 in most attractive leisure geographies such as French and British provinces, the UAE and the US with strong lifestyle hotels. RevPAR improved by 20 percentage points versus Q2 2021, reflecting a strong activity recovery seen over the summer. Our renewed winning spirit, combined with strict financial discipline, are the pillars upon which we will continue to improve our quarter-on-quarter performance.” Our teams are fully mobilized to support this recovery by rolling out new services, such as the launch of the ALL payment card in France and via global communication campaigns. With this rebound, our vision of augmented hospitality to serve our guests beyond their hotel rooms, has been confirmed with the acceleration of lifestyle & entertainment activities and takes on its full meaning. These trends are expected to persist out to the end of the year. Our business was very strong this summer in Europe, the Middle East and the Americas, particularly for our leisure destinations. “This third quarter of 2021 saw a genuine pick-up in demand.

Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said:

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