First-quarter 2021 revenue of €361 million down 48% like-for-like

64% DECLINE IN REVPAR VS. Q1 2019

ORGANIC OPENINGS AT 7,100 ROOMS

EBITDA SENSITIVITY AND CASH BURN
INDICATORS CONFIRMED

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

“There were no surprises in our first-quarter performance. Global business trends are improving slightly and the ramp-up of the vaccine rollouts bodes well for a particularly strong rebound. As it did in 2020, the Group continues to keep a close eye on protecting its cash and cutting costs. Today, all our efforts are focused on the strong recovery expected this summer.”

Consolidated first-quarter 2021 revenue totaled €361 million, down 53% as reported and 48% like-for-like versus Q1 2020 (i.e., -57% versus Q1 2019).

RevPAR fell by 64.3% versus Q1 2019, reflecting an environment that remains hard hit by the Covid-19 epidemic. There were, however, significant year-on-year improvements in South Europe, Australia, the Middle East and North America.

Changes in the scope of consolidation (acquisitions and disposals) had a negative impact of -€25 million, largely due to the disposal of Mövenpick leased hotels in early March 2020.

Currency effects had a negative impact of -€11 million, mainly due to the Brazilian real (-26.4%) and the US dollar (-8.7%).

During the first quarter, Accor opened 56 hotels, representing 7,100 rooms. Although slightly below previous years, this is a very satisfying level given the current backdrop. At end-March 2021, the Group had a portfolio of 757,000 rooms (5,163 hotels) and a pipeline of 211,000 rooms (1,204 hotels), of which 74% in emerging markets.

As of April 19, 2021, 87% of the Group’s hotels were open, i.e., more than 4,500 units.

Die vollständige Presseinformation finden Sie im Anhang. Aufgrund der Kurzfristigkeit folgt die deutsche Version der Presseaussendung.