Accor Sa · EURONEXT:AC
Accor Sa — Q1 2023 Earnings Presentation
26 slides from Accor Sa's earnings presentation, Apr 27, 2023
Slide 1: Q1 2023 Revenue
Q1 2023 Revenue April 27%, 2023 A ACCOR
Slide 2: Disclaimer
By reading the following presentation slides, you further agree to be bound by the following limitations and qualifications: This presentation is for information purposes only and does not constitute an offer or solicitation for the sale or purchase of any securities, any part of the business or ass
Slide 3: Q1 2023 Highlights
Q1 2023 Highlights Financial Highlights Trading Momentum 1 Systemwide RevPAR 1 Strong catch-up from Asia-Pacific +57% L/L vs. Q1 22 Systemwide RevPAR +77% L/L vs. Q1 22 +19% L/L vs. Q1 19 2 Net Unit Growth 2 Intact pricing power: Systemwide ARR +2.9% LTM 22% L/L above Q1 22 27% L/L above Q1 19 3 €1,
Slide 4: Organisation & Segmentation
Organisation & Segmentation Premium, Midscale & Economy Luxury & Lifestyle Market driven Brand driven 1 Europe North Africa (ENA) 1 Luxury 2 Middle-East Asia-Pacific (MEASPAC) 2 Lifestyle 3 Americas
Slide 5: Q1 23 RevPAR: Even Stronger than Q4 22
Q1 23RevPAR: Even Stronger than Q4 22 Premium, Midscale & Economy Luxury & Lifestyle +69% +60% +55% +54% +50% +49% +33% ENA MEASPAC Americas Total Luxury Lifestyle Total Occupancy Rate Average Room Rate RevPAR L/L year-on-year
Slide 6: Portfolio as of March 31st, 2023
Portfolio as of March 31st, 2023 Premium, Midscale & Economy Luxury & Lifestyle Network Pipeline Network Pipeline Hotels 4,937 996 Hotels 507 245 Rooms 689k 164k Rooms 111k 50k In rooms In rooms 327k 289k 37%(1) (106k) 81k 15%(1) 73k 31%(1) 81%(1) (49k) 12%(1) 30k (26k) (24k) (9k) ENA MEASPAC Americ
Slide 7: Q1 Group Revenue at +54% above Q1 2022 L/L
greet Vienna City Nord, Austria Q1 Group Revenue at +54% above Q1 2022 L/L Q1 Q1 Reported L/L In € millions 2022 2023 change Change Management & Franchise 158 268 +69% +71% Services to Owners 349 578 +66% +60% Hotel Assets & Other 200 311 +56% +37% Holding & Intercos (6) (18) N/A N/A Total 701 1,139
Slide 8: M&F Revenue at +71% above Q1 2022 L/L boosted by incentives
Mövenpick Balaland, Hungary M&F Revenue at +71% above Q1 2022 L/L boosted by incentives Q1 Q1 Reported L/L In € millions 2022 2023 change Change ENA 59 100 68% 69% MEASPAC 32 59 83% 87% Americas 11 15 39% 35% Prem., Mid. & Eco. 102 173 +70% +71% Luxury 39 71 +80% +81% Lifestyle 17 23 +40% +46% Luxur
Slide 9: Key Takeaways
Mgallery Elkonin Tel Aviv, Israel Key Takeaways 1 Asia momentum firming up 2 FY 2023 RevPAR expectation upgraded to double-digit growth vs. FY 2022 Rating agencies have acknowledged the financial recovery 3 • Fitch’s rating upgraded to Investment Grade • S&P’s rating upgraded to positive outlook 4 C
Slide 10: Appendices
Appendices Maison delano Paris, France
Slide 11: Q1 2023 Revenue vs. Q1 2022 – From Like-for-Like to Reported
Q1 2023 Revenue vs. Q1 2022 – From Like-for-Like to Reported Like-for-Like +54% €382m Perimeter Mainly Paris Society +8% €59m Negative currency effect Currency USD: 12m (0)% €(2)m • • BRL: €3m • AUD: €(1)m • CAD: €(1)m • TRY: €(4)m Reported • EGP: €(10)m +63% €438m
Slide 12: Previous reporting format
\1\ Previous reporting format
Slide 13: RevPAR - Systemwide
RevPAR - Systemwide Q1 2023 vs. Q1 2022 OR ARR RevPAR Lux. & Upscale 59.9 16.8 185 16.4 111 60.0 Midscale 60.6 14.1 96 20.8 58 56.4 Economy 60.2 11.3 63 23.4 38 51.4 SYSTEMWIDE 60.3 13.6 106 22.0 64 56.8
Slide 14: RevPAR - Geographical Breakdown (1/2)
RevPAR - Geographical Breakdown (1/2) Q1 2023 vs. Q1 2022 OR ARR RevPAR Lux. & Upscale 53.0 14.5 228 13.4 121 55.3 Midscale 57.5 12.4 117 15.6 67 47.1 Economy 58.7 8.4 71 16.4 42 35.7 SOUTH EUROPE 58.0 10.1 95 17.9 55 42.5 Lux. & Upscale 53.6 18.9 186 13.3 100 74.1 Midscale 59.2 15.8 97 21.3 58 65.2
Slide 15: RevPAR - Geographical Breakdown (2/2)
RevPAR - Geographical Breakdown (2/2) Q1 2023 vs. Q1 2022 OR ARR RevPAR Lux. & Upscale 58.9 20.8 136.2 23.7 80.3 86.3 Midscale 63.2 17.5 87.3 22.7 55.1 68.2 Economy 66.4 15.9 47.2 34.0 31.3 74.5 ASPAC 62.7 18.1 90.6 27.8 56.8 77.3 Lux . & Upscale 67.9 11.1 190 25.1 129 48.9 Midscale 64.9 3.4 85 22.8
Slide 16: Group Revenue
MGallery La Licorne Troyes, France Group Revenue Q1 Q1 Reported L/L In € millions 2022 2023 vs. Q1 22 Change HotelServices 507 846 +67% +63% Hotel Assets & Other 200 311 +56% +37% Holding & Intercos (6) (18) N/A N/A Total 701 1,139 +63% +54%
Slide 17: M&F Revenue
Mama Shelter Rennes, France M&F Revenue Q1 Q1 Reported In € millions 2022 2023 change South Europe 38 61 57% North Europe 30 55 86% ASPAC 24 50 107% IMEAT 32 50 53% Americas 33 52 58% Total 158 268 69%
Slide 18: RevPAR
\2\ RevPAR ACCOR ~ QI 2023 Resutts - ApRiL 27, 2023
Slide 19: RevPAR – Systemwide
RevPAR – Systemwide Q1 2023 vs. Q1 2022 OR ARR RevPAR ENA 57.9 12.7 89 20.2 51 53.8 MEASPAC 64.5 15.5 88 29.3 57 68.5 Americas 56.6 6.5 65 32.0 37 48.9 Prem., Mid. & Eco. 60.4 13.2 86 25.5 52 59.6 Luxury 59.6 17.9 243 9.5 145 54.7 Lifestyle 57.9 12.6 218 4.6 126 32.6 Luxury & Lifestyle 59.2 16.7 237
Slide 20: Portfolio
\3\ Portfolio
Slide 21: Portfolio as of March 31st, 2023
Portfolio as of March 31st, 2023 OWNED & LEASED MANAGED FRANCHISED TOTAL # hotels # rooms # hotels # rooms # hotels # rooms # hotels # rooms ENA 8 2,493 933 139,868 2,002 184,523 2,943 326,884 MEASPAC 42 7,474 780 178,473 722 103,490 1,544 289,437 Americas 56 11,395 171 30,011 223 31,404 450 72,810
Slide 22: Exchange rates
\4\ Exchange rates ACCOR ~ QI 2023 Resutts - ApRiL 27, 2023
Slide 23: Q1 2023 Exchange Rates
Q1 2023 Exchange Rates Q1 2022 Q1 2023 Q1 2023 1€ = X foreign currency Average Rate Average Rate vs. Q1 2022 American Dollar (USD) 1.12 1.07 (5)% Australian Dollar (AUD) 1.56 1.56 0% Brazilian Real (BRL) 5.95 5.58 (6)% Turkish Lira (TRY) 15.60 20.23 +30% Canadian Dollar (CAD) 1.42 1.45 +2% British S
Slide 24: Glossary
\5\ Glossary
Slide 25: Glossary
Glossary Division definitions • M&F: Management & Franchise • STO: Services to Owners • HA & Other: Hotel Assets & Other Region organization • ENA: Europe North Africa including France, Germany and UK • MEASPAC: Middle East Asia Pacific including United Arab Emirates, Dubai, China and Australia • Am
Slide 26: Accor
ACCOR ORIENT EXPRESS \ RAFFLES \ FAENA \ BANYAN TREE \ FAIRMONT \ EMBLEMS \ SOFITEL \ MGALLERY calf <21¢ MUSEUM HOTEL \ 25HOURS \ DELANO \ GLENEAGLES \ HYDE \ JO0&J30E \ MAMA SHELTER \ MONDRIAN MORGANS ORIGINALS \ SLS \ SO \ THE HOXTON \ TRIBE \ WORKING FROM \ RIXOS \ PARIS SOCIETY MANTIS \ ART SERI