It is an understatement to say that the intermediate results that Accor presented last night are weighed down by the Covid-19. After a decline in sales of 15.8% in the 1st quarter, on a like-for-like basis, the trend deteriorated to the point that over the half-year, billings fell by half (-48.8%), to 917 million euros. A key sector indicator, revenue per room (RevPAR) collapsed by 59.3% over the period, to € 25 (and even € 8 in the 2nd quarter), for an occupancy rate falling to 31%.
“The shock to our industry is unprecedented and incredibly violent,” comments CEO Sébastien Bazin. The accounts bear the mark, with a gross operating surplus which swings from + 375 million euros a year ago to - 227 million a year later. Weighted down by one billion euros in exceptional charges, especially depreciation, the net loss reached a record amount of 1.51 billion euros. That is more than ten times the benefit observed in the summer of 2019.
Of course, "a recovery is noticeable
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