In 2023, the company opened 291 hotels, adding 41,000 rooms to its network. Credit: Morgan Lane via Unsplash.

Hospitality Group Accor has reported total revenue of €5.05bn for the full year of 2023, a 19.69% rise from €4.22bn in 2022.  

The company’s net profit, group share, jumped to €633m in 2023, marking a 57.46% increase from €402m in 2022. 

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The hotel group’s consolidated EBITDA for the year climbed to €1bn, up from €675m.  

Total revenue per available room (RevPAR) stood at €73 in 2023, a 22.7% increase from 2022, while the occupancy rate for the year rose to 66%. 

For the quarter ending 31 December 2023, Accor reported total RevPAR of €73, an 11.1% increase from the corresponding quarter in the previous year.  

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Accor chairman and CEO Sébastien Bazin said: “Accor generated record-high results in 2023, with EBITDA breaking the €1bn mark for the first time in its history. While there were numerous reasons for this success, the solid performances were above all attributable to the group’s teams. 

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“Over the past year, the group achieved growth in all segments and geographies, illustrating the strength of its asset-light model, the efficiency of its organisation based on the two divisions, Premium, Midscale and Economy on the one hand; and Luxury and Lifestyle on the other, the desirability of its brands, the strength of its distribution and loyalty tools, as well as its financial discipline.” 

Last year, the company opened 291 hotels, adding 41,000 rooms to its network, resulting in a net growth of 2.4% over the last 12 months. 

As of the end of December 2023, Accor’s hotel portfolio comprised 821,518 rooms across 5,584 hotels, with a pipeline of 225,000 rooms in 1,315 hotels.  

Looking ahead, Accor anticipates a compound annual growth rate (CAGR) for RevPAR of between 3% and 4% from 2023 to 2027. 

Meanwhile, the company expects CAGR for EBITDA to be between 9% and 12% from 2023 to 2027.