Close

Cart

Total $0.00

Checkout

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

  • Robust growth in most of the Group's key markets
     
  • Record development, with 81,042 rooms (347 hotels), of which 89% under management  contracts  (including  117 hotels and 43,481 rooms via Fairmont Raffles Hotels International) and franchise agreements
     
  • Acquisition of the Fairmont Raffles Hotels International Group, with 98% support at the Shareholders’ Meeting of July 12, 2016
     
  • Acquisition of 100% of onefinestay, world leader in luxury serviced home rentals, and 79% of John Paul, world leader in concierge services

HotelInvest

  • Continued rotation of assets, with 148 hotels, of which:

             - 85 hotels in Europe transferred to Grape Hospitality

             - 12 hotels in China transferred to Huazhu

  • Launch of the Booster project to turn HotelInvest into a subsidiary and sell a majority of its capital
     
  • Agreement with a subsidiary of the Abu Dhabi Investment Authority (ADIA) to restructure a portfolio of 31 hotels (4,097 rooms) in Australia
     

HotelServices

  • Recruitment of 2,200 independent hotels, of which 1,800 integrated into the accorhotels.com marketplace
     
  • Announcement of a strategic partnership with 25Hours Hotels
     
  • Announcement of a strategic partnership with Banyan Tree
     
  • Creation of the JO&JOE lifestyle brand
     
  • Continued  deployment  of   the   five-year   digital   plan   (€173 million committed out of €250 million since 2014)
     

Luxury private rentals

  • Acquisition of onefinestay, the world leader in luxury serviced home rentals, of 49% of Squarebreak and of 28% of Oasis Collections
     
  • In February 2017, start of exclusive negotiations with Travel Keys to create the world leader in the rental of luxury private villas
     

2016 results

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:
http://www.accorhotels-group.com/fileadmin/user_upload/Contenus_Accor/Finance/Pressreleases/2017/UK/ah_pr_2016results_final_en.pdf

About AccorHotels

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

sebastien.valentin@accor.com / +33 (0)1 45 38 86 25

Related News

AccorHotels Signs with Nakheel for Raffles Hotel and Residences at PALM360 on Palm Jumeirah, Dubai

Brazil Hospitality Group (BHG) Enters Partnership with AccorHotels for Management of 17 of BHG’s Owned Hotels

Q3 2017 Financial Reports Round Up Part 1: IHG, AccorHotels, LaSalle

Landmark Hotel Reopening Early 2018 in Poland as Raffles Europejski Warsaw Following Restoration

AccorHotels Signs an Agreement to Acquire Mantra Group Limited

AccorHotels and SNCF Group Sign a Strategic Partnership for the Development of the Orient Express Brand

Accor: What Will be the Hotel Room of the Future?

Sofitel Singapore City Centre Opens as AccorHotels' 800th Hotel in Asia Pacific

AccorHotels Debuts ibis Styles Brand in the United States with Opening of ibis Styles New York LaGuardia Airport

Fairmont Hotels & Resorts and GP GROUP JSC to Develop 120-Room Fairmont Saint Lucia at Sunset Bay

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

All News »

Please login or register to post a comment.