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☆ I'm not worried about China, says Accor deputy CEO
  + stars: | 2024-10-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI'm not worried about China, says Accor deputy CEOJean-Jacques Morin, Deputy CEO of Accor, discusses the firm's profit guidance raise and why he is not worried about China in the long term.
Persons: I'm, Jean, Jacques Morin Locations: China
☆ Hotel group Accor beats on core earnings, bullish on Chinese tourists
  + stars: | 2023-02-23 | by ( Tristan Chabba Anna Mackenzie | Tristan Chabba | Anna Mackenzie | ) www.reuters.com   time to read: +2 min
Feb 23 (Reuters) - Europe's biggest hotel group Accor (ACCP.PA) on Thursday forecast higher revenue per available room (RevPAR) for 2023 as Chinese travelers are expected to return, after its annual core profit beat expectations on strong December activity. Hotel chains were hit hard by China's strict pandemic restrictions and are now hoping for a recovery in the Asia-Pacific region, Accor's second biggest market pre-pandemic. 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. Accor's RevPAR, a key gauge of performance for the hotel industry, last year exceeded the 2019 pre-pandemic level by 2%. It posted core profit of 675 million euros ($716.72 million) for 2022, while analysts in a Refinitiv poll had expected 640.3 million euros.
☆ Accor: 2022 was the first time we went above 2019 levels
  + stars: | 2023-02-23 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAccor: 2022 was the first time we went above 2019 levelsJean-Jacques Morin, deputy CEO and CFO of the French hospitality company, discusses its "momentous milestone" and the outlook for 2023.
☆ Hotel group Accor continues post-COVID recovery after a 'gorgeous' summer
  + stars: | 2022-10-26 | by ( Diana Mandia Dina Kartit | Diana Mandia | Dina Kartit | ) www.reuters.com   time to read: +2 min
SummarySummary Companies Q3 RevPar up 14% from same period in 2019Average pricing in Q3 was 23% above 2019 levelDemand in Asia will "correct itself"Oct 26 (Reuters) - Europe's biggest hotel group Accor (ACCP.PA) reported higher than expected third-quarter revenue per available room (RevPAR) on Wednesday, continuing a sharp improvement in activity since the start of the year after a "gorgeous" summer season. U.S. tourists travelling to Europe took advantage of the dollar's strength against the euro and other currencies, Chief Financial Officer Jean-Jacques Morin said on a call with journalists. Accor's average pricing in the third quarter has been 23% above 2019 levels, the CFO said, adding the capability to earn more fees through inflation needed to be accounted for. However, the situation in Asia will "correct itself", with recovery in China and Southeast Asian countries next year possibly making a difference to the group's performance, Morin added. ($1 = 0.9930 euros)Reporting by Diana Mandia and Dina Kartit; Editing by David Holmes, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.
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