Capitalising on record development, AccorHotels revenue goes up 17.7%
In 2017, AccorHotels benefited from very strong business in the majority of its key markets, significantly increasing its operating margins and results on the back of tight cost control, the synergies resulting from its acquisition of FRHI and careful management of digital expenses. Capitalising on record development with the opening of 51,413 rooms (301 hotels), of which 94% operated under management and franchise contracts (including 10,000 rooms for Rixos Hotels and BHG), the Group ended 2017 with a hotel portfolio of 6,16,181 rooms (4,283 hotels) and a pipeline of 1,61,000 rooms (874 hotels), 78% of which in emerging markets and 47% in the Asia-Pacific region.
Sébastien Bazin, chairman and CEO of AccorHotels.
Consolidated 2017 revenue amounted to €1,937 million, up 7.9% at constant scope of consolidation and exchange rates (like-for-like) and 17.7% as reported compared with 2016. The difference between the like-for-like and reported changes stems primarily from the consolidation of FRHI and from the new businesses (+12.9%).
Sébastien Bazin, chairman and CEO of AccorHotels, said, “AccorHotels’ earnings for 2017 mark another leap in performance, with excellent operating results and record development. The Group continues to benefit from positive market trends with a confirmed increase in volumes. Against this buoyant backdrop, AccorHotels continues to pursue its dynamic trajectory, consolidate its market share and enrich its range of services for customers and partners. By developing our ‘augmented hospitality’ model, we are at the forefront of an industry that is constantly transforming and has unlimited prospects.”
Hotel Services reported business volume of €17.9 billion, up 19% (at constant exchange rates), and revenue of €1,746 million, up 14.6% as reported and 5.1% like-for-like. Very well oriented, the Asia-Pacific region turned in revenue growth of 7.7%, thanks to excellent trends in the Economy (+14%) and luxury/upscale (+12%) segments.
Organic development reached new record levels in 2017. AccorHotels opened 264 new hotels, representing more than 40,802 rooms; it enjoys very encouraging prospects, with a pipeline of 874 hotels and 1,61,000 rooms.