Accor has reported strong financial results for 2019, with revenue up 3.8 per cent on a like-for-like basis to €4,049 million.
EBITDA at the hotel giant increased 5.9 per cent on a like-for-like basis, to €825 million.
Sébastien Bazin, chief executive of Accor, commented: “The group delivered a record performance again for financial 2019.
“This is all the more outstanding against a difficult macroeconomic background and in light of our successful transformation, parallel to achieving growth.
“Today, Accor is more diversified than ever, and a fully asset-light group.
“Going forward, we will pursue the execution of our strategy, focusing on our roadmap and value creation for shareholders.”
The group opened 327 hotels over the previous year, with a total of 45,108 rooms.
Accor now has a portfolio of 739,537 rooms in 5,036 hotels, and a pipeline of 208,000 rooms in 1,206 hotels.
Responding to the coronavirus in China and elsewhere, Accor said some 200 of its 370 Chinese hotels are no longer open for bookings.
Accor chief financial officer, Jean-Jacques Morin, said RevPAR was down 90 per cent in greater China at present.
While China alone accounts for only three per cent of group sales, Asia Pacific makes up more than a…