AccorHotels Reports Strong Earnings Growth in 2016; Outlines New Platform on AccorInvest
February 22, 2017 10:10am
Revenue up 0.9% to €5,631 million (+2.2% LFL)
EBIT up 4.6% to €696 million (+3.8% LFL)
Net profit up 8.1% to €266 million
Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels, said: AccorHotels has posted an excellent performance for 2016 in a challenging environment, in particular with record levels of EBIT and numbers of hotel rooms opened. Thanks to the efforts made by our teams around the world, we have implemented strong operational levers, which enabled growth in earnings to outpace that in revenue. We have ventured out to conquer new markets and offer new services thereby consolidating our leadership position and opening up new horizons for our clients. Carrying out our project to turn HotelInvest into a subsidiary in 2017 will give us significant headroom to seize the numerous opportunities provided by the rapid transformation of our industry."
Significant events and strategic transactions in 2016
- 85 hotels in Europe transferred to Grape Hospitality
- 12 hotels in China transferred to Huazhu
Luxury private rentals
On July 12, 2016, AccorHotels announced its intention to dispose of its real estate operations, united within HotelInvest, at the end of first-half 2017.
In accordance with IFRS 5, assets held for sale have been placed in a separate item on the balance sheet, in the income statement and in cash-flow statement.
However, to facilitate comparison with the previous year and the objectives announced by the Group, all comments in this press release regarding business trends and profitability are formulated on the basis of consolidated figures before separation of these operations in the income statement. The tables in the appendix show the reconciliation between the consolidated financial statements and the figures provided before application of IFRS 5.
Consolidated 2016 revenue amounted to €5,631 million, up 2.2% from 2015 at constant scope of consolidation and exchange rates (like-for-like), and up 0.9% as reported. The increase resulted from healthy business levels in most of the Group’s key markets: Asia-Pacific (+5.5%), Americas (+4.7%), Northern, Central and Eastern Europe (NCEE: +4.1%), and Mediterranean, Middle East and Africa (MMEA: +3.8%).
- Growth in the Asia-Pacific region was led by the development over the past three years of 252 hotels operated under franchise agreements or management contracts and by RevPAR growth of 4.9% in 2016.
- Despite a challenging business environment in Brazil (-2.4%), the Americas reported an improved performance, driven notably by RevPAR growth of 17.6% in Mexico.
- Eastern Europe, the United Kingdom and Germany were the main business drivers in Northern, Central and Eastern Europe, posting revenue growth of 7.6%, 4.3% and 3.7% respectively for the year.
Revenue was down 2.8% in France in 2016. Business was very challenging in Paris (RevPAR: -13.2%), where demand was affected by recent events, while hotels outside the capital put in a solid performance for the year (RevPAR: +4.2%).
To view full financial release and corresponding tables please click the PDF icon or visit:
q4 2016 results
AccorHotels is a world-leading travel & lifestyle group and digital innovator offering unique experiences in more than 4,100 hotels, resorts and residences, as well as in over 3,000 of the finest private homes around the globe. Benefiting from dual expertise as an investor and operator through its HotelServices and HotelInvest divisions, AccorHotels operates in 95 countries. Its portfolio comprises internationally
acclaimed luxury brands including Raffles, Fairmont, Sofitel Legend, SO Sofitel, Sofitel, onefinestay, MGallery by Sofitel, Pullman, and Swissôtel; as well as the popular midscale and boutique brands of
25hours, Novotel, Mercure, Mama Shelter and Adagio; the much-prized economy brands including JO&JOE, ibis, ibis Styles, ibis budget and the regional brands Grand Mercure, The Sebel and hotelF1. AccorHotels provides innovative end-to-end services across the entire traveler experience, notably through the recent acquisition of John Paul, world leader in concierge services.
With an unmatched collection of brands and rich history spanning close to five decades, AccorHotels, along with its global team of more than 240,000 dedicated women and men, has a purposeful and heartfelt mission: to make every guest Feel Welcome. Guests enjoy access to one of the world’s most rewarding hotel loyalty programs - Le Club AccorHotels.
AccorHotels is active in its local communities and committed to sustainable development and solidarity through PLANET 21, a comprehensive program that brings together employees, guests and partners to drive sustainable growth.
Accor SA is publicly listed with shares trading on the Euronext Paris exchange (ISIN code: FR0000120404) and the OTC marketplace (Code: ACRFY) in the United States.
For more information and reservations visit accorhotels.group or accorhotels.com.
Contact: Investor and Analyst Relations: Sébastien Valentin
+33 (0)1 45 38 86 25
Pullman Hotels & Resorts Plans Fall 2018 Opening of Pullman Tokyo Tamachi
AccorHotels Signs Management Agreement with Queensway for ibis Styles - Nairobi, Westlands
AccorHotels Appoints Mark Purcell as Vice President, Development, North America
AccorHotels Launches Transformation of Sofitel Copacabana into South America's First Fairmont Hotel
AccorHotels in Talks to Acquire the FCDE’s Stake in Groupe Noctis, a French Events, Catering and Entertainment Specialist
Swissôtel, an AccorHotels Brand, Enters the Bosnian Market via Franchise Agreement with Al Shiddi International
AccorHotels Enters Agreement with New Mauritius Hotels for Management of Fairmont Royal Palm Marrakech
AccorHotels Rebrands an Iconic Sheikh Zayed Road in Dubai to Mercure Dubai Barsha Heights Hotel Suites & Apartments
AccorHotels Announces a Relaunch Plan for the hotelF1 Brand in France
AccorHotels Enters Strategic JV Partnership with Rixos Hotels with Focus on Global Development in the Luxury Resort Segment
BHG and AccorHotels Form Partnership for Accor to Manage 26 Hotels in Brazil
Park Hotels & Resorts Inc. Reports Q4 2016 Net Income of $17 Million, a Decrease of 75.4%; Pro-forma RevPAR Down 0.8%
Hospitality Properties Trust Reports Fourth Quarter Net Income of $58 Million Compared to a Net Loss of $24.7 Million in the Year Ago Quarter
Xenia Hotels & Resorts Reports Q4 2016 Net Income of $48.8 Million, Down from $61.8 Million; Same-Property RevPAR Decreased 4.2% Compared to Q4 2015
Extended Stay America Reports Q4 2016 Net Income of $30.1 Million, Down from $132.1 Million; RevPAR Up 4.1% for the Quarter
Belmond Ltd. Reports 2016 Net Earnings of $36.3 Million for the Year, up $20 Million from 2015; RevPAR Down 7% in Q4 but up 3% for the Full Year
Ryman Hospitality Reports Q4 2016 Net Income Increase of 24% to $48.1 Million and a 43% Rise to $159.4 Million for the Year Over 2015 Periods
AccorHotels Appoints Maud Bailly Chief Digital Officer
Ashford Hospitality Trust Reports Q4 2016 Net Loss of $57.3 Million; Comparable RevPAR for all Hotels not Under Renovation Increased 3.2% During the Quarter
Summit Hotel Properties Reports Q4 2016 Net Income Fell to $3.3 Million, Compared with $80 Million in 2015; Pro Forma RevPAR Increased 1% in Q4
Please login or register to post a comment.