Slide 1: H1 2024 Results
H1 2024 Results J u l y 2 5 th, 2 0 2 4
Slide 2: Disclaimer
Disclaimer By reading the following presentation slides, you further agree to be The main risk factors are further developed in Accor’s Universal Registration bound by the following limitations and qualifications: Document which is filed with the AMF (Autorité des Marchés Financiers) and is availabl
Slide 3: Opening remarks
Opening remarks Sébastien Bazin Chairman & CEO ACCOR – H1 2024 Results - July 25, 2024 3
Slide 4: Consumers' Behaviors will Continue to Fuel the Hospitality Industry
Consumers’ Behaviors will Continue to Fuel the Hospitality Industry Ready to spend more and to favor travel Solid future demand for all regions Travel spending in 2024 compared with 2023 International visitors growth forecasts % difference from 2019 levels +51% 2023 2024 2025 Less Same More +31% +11
Slide 5: Accor's Portfolio Aligns Well with Growth Geographies
Accor’s Portfolio Aligns Well with Growth Geographies 29% NORTH AMERICAS ROOMS FEES Portfolio 5% 13% EUROPE & NORTH AFRICA Pipeline 3% 12% ROOMS FEES Portfolio 43% 49% APAC Pipeline 26% 26% ROOMS FEES 29% Portfolio 34% 18% SOUTH AMERICAS Pipeline 51% 31% MEA ROOMS FEES ROOMS FEES Portfolio 8% 6% Por
Slide 6: Solid Achievements since Implementation of the New Organization
Solid Achievements since Implementation of the New Organization Premium, Midscale & Economy Luxury & Lifestyle Strengthen global leadership and footprint Focus on brands 1 Acceleration in MEA, confirming leadership 1 ibis 50 year anniversary Novotel brand rejuvenation, partnership with WWF Strengthe
Slide 7: Delivered H1 24 Results in line with Mid-Term Perspectives
Delivered H1 24 Results in line with Mid-Term Perspectives Actual H1 24 Guidance FY23-27 REVPAR GROWTH (L/L) +6% +3-4% NUG (LTM) +4.1% +3-5% M&F REVENUE GROWTH (Reported) +10% +6-10% Marginally SERVICES TO OWNERS EBITDA €17m positive GROUP EBITDA GROWTH (Reported) +13% +9-12% CASH CONVERSION N/A (1)
Slide 8: H1 2024 Results - Martine Gerow, Group CFO
H1 2024 Results Martine Gerow Group CFO ACCOR – H1 2024 Results - July 25, 2024 8
Slide 9: H1 2024 Financial Highlights
H1 2024 Financial Highlights Solid growth for all operational metrics Solid momentum in executing CMD guidance H1 24 RevPAR +6.0% L/L vs. H1 23 EBITDA at €504m up +13% vs. H1 23 1 Q2 24 RevPAR +4.8% L/L 1 above the +9-12% mid-term guidance LTM Net Unit Growth at +4.1% 2 Acceleration in Q2 2024 2 EPS
Slide 10: Q2 RevPAR benefits from our diversified brand portfolio and geographical mix
Q2 24 RevPAR benefits from our diversified brand portfolio and geographical mix Premium, Midscale & Economy Luxury & Lifestyle +12% +14% +7% +8% +4% +6% +1% ENA MEA Americas Total Luxury Lifestyle Total APAC Occupancy Rate Average Room Rate XX% RevPAR L/L year-on-year ACCOR – H1 2024 Results - July
Slide 11: Portfolio as of June 30th, 2024
Portfolio as of June 30th, 2024 Premium, Midscale & Economy Luxury & Lifestyle LTM Net Unit Growth LTM M&F Revenue LTM Net Unit Growth LTM M&F Revenue +3.7% €1.2k/room +6.9% €4.0k/room In rooms In rooms 330k 316k 83k 108k 37k 47k 72k 26k 27k 10k ENA MEA APAC Americas Luxury Lifestyle Network Pipelin
Slide 12: +11% Group Revenue Growth
Mövenpick Istanbul Marmara Sea, Turkey +11% Group Revenue Growth In € millions H1 2023 H1 2024 Reported change M&F 403 431 +7% STO 521 538 +3% HA & OTHER 494 505 +2% PREM., MID. & ECO. 1,418 1,473 +4% M&F 210 242 +15% STO 655 716 +9% HA & OTHER 155 285 +84% LUXURY & LIFESTYLE 1,020 1,243 +22% INTERC
Slide 13: +10% M&F Revenue Growth
Mama Shelter Nice, France Adagio Access Rouen Centre Cathédrale, France +10% M&F Revenue Growth In € millions H1 2023 H1 2024 Reported change ENA 242 254 +5% MEA APAC 128 140 +10% AMERICAS 33 37 +9% PREM., MID. & ECO. 403 431 +7% LUXURY 153 159 +4% LIFESTYLE 57 83 +45% LUXURY & LIFESTYLE 210 242 +15
Slide 14: +13% Group EBITDA Growth
Sofitel Agadir Royal Bay Resort, Morroco +13% Group EBITDA Growth In € millions H1 2023 H1 2024 Reported change M&F 276 299 +8% STO 2 13 N/A HA & OTHER 52 48 (6)% PREM., MID. & ECO. 330 360 9% M&F 141 169 +20% STO 19 4 N/A HA & OTHER 14 24 +69% LUXURY & LIFESTYLE 174 196 +13% HOLDING (57) (52) N/A T
Slide 15: From EBITDA to Net Profit
From EBITDA to Net Profit In € millions H1 2023 H1 2024 EBITDA 447 504 DEPRECIATION AND AMORTIZATION (131) (159) EBIT 316 345 SHARE OF NET PROFIT OF EQUITY-INVESTMENTS 9 49 NON-RECURRING ITEMS 26 (2) OPERATING PROFIT 351 393 NET FINANCIAL EXPENSE (45) (21) INCOME TAX (48) (100) MINORITY INTERESTS (1
Slide 16: Cash Flow Generation
Cash Flow Generation In € millions H1 2023 H1 2024 EBITDA 447 504 INTERESTS PAID (28) (42) INCOME TAX (CASH) (67) (105) REIMBURSEMENT OF LEASE LIABILITIES (49) (54) NON-CASH ITEMS 23 29 FUNDS FROM OPERATIONS 325 332 RECURRING INVESTMENT / CAPEX (80) (90) WORKING CAPITAL AND CONTRACT ASSETS/LIABILITI
Slide 17: FY24 Guidance
FY24 Guidance Net Unit Services to RevPAR EBITDA Growth Owners +4 - 5% +3 - 4% Positive EBITDA €1,095 - 1,125m contribution +9-12% yoy ACCOR – H1 2024 Results - July 25, 2024 17 MGallery Dunhua Mension Taipei, Taiwan
Slide 18: Closing remarks
Closing remarks Sébastien Bazin Chairman & CEO ACCOR – H1 2024 Results - July 25, 2024 18
Slide 19: Accor's Purpose
Accor’s Purpose Pioneering the art of responsible hospitality, connecting cultures, with heartfelt care. ACCOR – H1 2024 Results - July 25, 2024 19
Slide 20: In the first year following its CMD, Accor is performing well in line with its targets
Sofitel Shanghai North Bund, China “It is all about execution” In the first year following its CMD, Accor is performing well in line with its targets confirming sound & controlled business model ACCOR – H1 2024 Results - July 25, 2024 20
Slide 21: Appendices
Handwritten Square Lodge Hotel La Roche sur Yon, France Appendices ACCOR – H1 2024 Results - July 25, 2024 21
Slide 22: H1 2024 Revenue vs. H1 2023 – From Like-for-Like to Reported
H1 2024 Revenue vs. H1 2023– From Like-for-Like to Reported +9% +5% (3)% +11% Like-for-Like Perimeter Currency Reported €221m €117m €(63)m €275m Mainly Negative currency effect Potel & Chabot USD: €(1)m CAD: €(2)m ARS: €(9)m EGP: €(10)m AUD: €(12)m TRY: €(22)m ACCOR – H1 2024 Results - July 25, 2024
Slide 23: H1 2024 EBITDA vs. H1 2023 – From Like-for-Like to Reported
H1 2024 EBITDA vs. H1 2023– From Like-for-Like to Reported +16% +3% (6)% +13% Like-for-Like Perimeter Currency Reported €73m €13m €(28)m €58m Mainly Negative currency effect Potel & Chabot AUD: €(3)m ARS: €(6)m EGP: €(7)m TRY: €(7)m ACCOR – H1 2024 Results - July 25, 2024 23
Slide 24: Q2 2024 Group Revenue
Novotel Lubumbashi – Republic of Congo Q2 2024 Group Revenue In € millions Q2 2023 Q2 2024 Reported change M&F 230 239 +4% STO 258 286 +11% HA & OTHER 250 259 +4% PREM., MID. & ECO. 738 783 +6% M&F 116 140 +21% STO 340 369 +9% HA & OTHER 88 167 +90% LUXURY & LIFESTYLE 544 677 +24% INTERCOS (19) (18)
Slide 25: Q2 2024 Management & Franchise Revenue
Hyde Bodrum - Turkey Q2 2024 Management & Franchise Revenue In € millions Q2 2023 Q2 2024 Reported change ENA 142 148 +4% MEA APAC 69 73 +5% AMERICAS 19 18 (5)% PREM., MID. & ECO. 230 239 +4% LUXURY 82 85 +4% LIFESTYLE 34 55 +62% LUXURY & LIFESTYLE 116 140 +21% TOTAL 346 379 +10% ACCOR – H1 2024 Res
Slide 26: Q2 2024 Revenue vs. Q2 2023 – From Like-for-Like to Reported
Q2 2024 Revenue vs. Q2 2023– From Like-for-Like to Reported +10% +6% (2)% +14% Like-for-Like Perimeter Currency Reported €126m €79m €(26)m €179m Mainly Negative currency effect Potel & Chabot USD: €3m CAD: €(1)m BRL: €(2)m ARS: €(4)m EGP: €(8)m TRY: €(12)m ACCOR – H1 2024 Results - July 25, 2024 26
Slide 27: RevPAR
3 RevPAR ACCOR – H1 2024 Results - July 25, 2024 27
Slide 28: RevPAR – Systemwide
RevPAR – Systemwide Q2 2024 vs. Q2 2023 H1 2024 vs. H1 2023 OR ARR RevPAR OR ARR RevPAR ENA 71.1 (0.7) 107 1.9 76 0.9 64.7 0.1 100 2.3 65 2.4 MEA APAC 67.1 2.1 83 3.5 56 6.7 66.5 2.1 86 6.1 57 9.4 Americas 59.0 2.6 71 7.1 42 12.1 56.8 0.7 71 6.6 40 7.8 Prem., Mid. & Eco. 68.2 0.8 93 2.6 64 3.7 64.6
Slide 29: Portfolio
4 Portfolio ACCOR – H1 2024 Results - July 25, 2024 29
Slide 30: Portfolio as of June 30th, 2024
Portfolio as of June 30th, 2024 Owned & Leased Managed Franchised Total #HOTELS #ROOMS #HOTELS #ROOMS #HOTELS #ROOMS #HOTELS #ROOMS ENA 8 2,493 900 135,720 2,069 192,068 2,977 330,281 MEA APAC 40 7,090 800 183,501 866 125,446 1,706 316,037 AMERICAS 54 10,930 166 27,765 233 33,251 453 71,946 PREM., M
Slide 31: Exchange rates
5 Exchange rates ACCOR – H1 2024 Results - July 25, 2024 31
Slide 32: H1 2024 Exchange Rates
H1 2024 Exchange Rates 1 foreign currency = X euro H1 2023 H1 2024 H1 2024 Average Rate Average Rate vs. H1 2023 AMERICAN DOLLAR (USD) 0.93 0.92 (1)% AUSTRALIAN DOLLAR (AUD) 0.64 0.61 (4)% BRAZILIAN REAL (BRL) 0.18 0.19 +3% TURKISH LIRA (TRY) 0.05 0.03 (39)% CANADIAN DOLLAR (CAD) 0.69 0.68 (1)% BRIT
Slide 33: Q2 2024 Exchange Rates
Q2 2024 Exchange Rates 1 foreign currency = X euro Q2 2023 Q2 2024 Q2 2024 Average Rate Average Rate vs. Q2 2023 AMERICAN DOLLAR (USD) 0.92 0.93 +1% AUSTRALIAN DOLLAR (AUD) 0.61 0.61 (0)% BRAZILIAN REAL (BRL) 0.18 0.18 (3)% TURKISH LIRA (TRY) 0.04 0.03 (36)% CANADIAN DOLLAR (CAD) 0.68 0.68 (1)% BRIT
Slide 34: Glossary
5 Glossary ACCOR – H1 2024 Results - July 25, 2024 34
Slide 35: Glossary
Glossary Division Region Like-for-like (L/L) definitions organization definition for P&L figures • M&F: • ENA: • Foreign exchange changes vs. Management & Franchise Europe North Africa including Euro are cancelled applying the France, Germany and UK n-1 exchange rate to year n • STO: Services to Own
Slide 36: ACCOR
ACCOR