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Boosted by demand for shorter trips, European hotel chains have seen bookings recover to levels comparable to those in 2019 before the COVID-19 pandemic grounded international flights.
The group, which runs chains such as Sofitel, Pullman and Ibis, posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 675 million euros ($716.72 million) for 2022, above its outlook range of 610 million to 640 million euros.
Analysts on average had forecast EBITDA of 640.3 million euros in a Refinitiv poll.
Accor’s revenue per available room (RevPAR), a key gauge of performance for the hotel industry, came 2% above the 2019 pre-pandemic level.
Its regional division comprising India, Africa, the Middle East and Turkey saw a 73% rise in RevPAR in the last quarter of the year compared to 2019, boosted by high demand during the FIFA World Cup in Qatar.
($1 = 0.9418 euros)
