Europe’s biggest hotel group Accor expects its RevPAR to grow faster than its medium-term target this year, driven by strong performance across its regions and brands
Jul 26, 2024
Accor’s half-year RevPAR grew by 6%, partly driven by international events such as the Euro 2024 soccer tournament in Germany and the Hajj pilgrimage in Saudi Arabia.
Key takeaways
- Global hotel chains stand to profit from positive global travel trends despite the economic uncertainty, an Oxford Economics study cited by the company showed;
- The French group said it expects 2024 core profit to grow 9-12% from last year, after its first-half EBITDA rose 13% to a record high of 504 million euros.
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