Slide 1: FY 2022 Results
FY 2022 Results February 23'4, 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 document does not constitute the Annual Financial report for FY2022, which will be separately published on the website (www.group.accor.com). This presentation is for inf
Slide 3: Opening remarks
Opening remarks Sébastien Bazin Chairman & CEO
Slide 4: Latest GDP Growth Outlook Shows Improvement in Stable Inflation Environment
Latest GDP Growth Outlook Shows Improvement in Stable Inflation Environment While inflation pressure persists… …GDP Growth expectation improves Inflation outlook for FY23 GDP growth outlook for FY23 +6.5% +6.6% +2.9% +5.7% +5.7% +2.7% +4.0% +3.5% +1.4% +1.0% +0.7% +0.5% USA Eurozone World USA Eurozo
Slide 5: 2022 Domestic Travel above Pre-Pandemic Level
2022 Domestic Travel above Pre-Pandemic Level Domestic travel above 2019 International travel catching up Domestic million nights, World Million international travelers 15,846 1,459 1,277 13,752 919 14,455 1,203 -37% vs. 2019 +5% vs. 2019 12,149 9,116 409 2015 2016 2017 2018 2019 2020 2021 2022 2023
Slide 6: FY 2022 Results
FY 2022 Results Jean-Jacques Morin Deputy CEO
Slide 7: FY 2022 Financial Highlights
FY 2022 Financial Highlights FY22 results supporting Buoyant activity recovery return to shareholders 1 FY 22 RevPAR +2% L/L vs. FY19 1 Revenue at €4,224m Q4 22 +15% L/L vs. Q4 19, +80% L/L vs. FY 21 sequential improvement vs. Q3 22 +4% L/L vs. FY 19 2 FY 22 Net Unit Growth at +3.2% 2 EBITDA at €675
Slide 8: Q4 RevPAR significantly above 2019 (+15%) with continued Pricing Power
Q4 RevPAR significantly above 2019 (+15%) with continued Pricing Power South Europe North Europe Asia Pacific +11% +12% +9% +5% +2% -9% -6% -7% -18% -17%-21% -25% -37%-38% -38% -43% -39% -48% -55% -57% -63% -63% -82% -74% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2
Slide 9: Group Revenue now above 2019 level (+4%)
Raffles & Fairmont Doha, Qatar Group Revenue now above 2019 level (+4%) FY FY Reported L/L L/L In € millions 2021 2022 vs. FY 21 vs. FY 21 vs. FY 19 HotelServices 1,582 3,194 +102% +89% +5% Hotel Assets & Other 633 1,084 +71% +63% +2% Holding & Intercos (11) (54) N/A N/A N/A Total 2,204 4,224 +92% +
Slide 10: M&F Revenue back to 2019 level
Fairmont Tazi Palace, Morocco M&F Revenue back to 2019 level FY FY L/L L/L In € millions 2021 2022 vs. FY 21 vs. FY 19 South Europe 141 267 +88% (1)% North Europe 91 233 +133% (18)% ASPAC 98 157 +52% (26)% IMEAT 77 195 +151% +57% Americas 111 199 +63% +6% Total 518 1,052 +93% (1)%
Slide 11: Group EBITDA at €675m from €22m last year
Mgallery Naru Seoul Ambassador, South Korea Group EBITDA at €675m from €22m last year FY FY Reported L/L L/L In € millions 2021 2022 vs. FY 21 vs. FY 21 vs. FY 19 HotelServices 93 661 +612% +535% (11)% Hotel Assets & Other 48 137 +187% +202% (10)% Holding & Intercos (119) (123) N/A N/A N/A Total 22
Slide 12: From EBITDA to Net Profit
From EBITDA to Net Profit In € millions FY 2021 FY 2022 EBITDA 22 675 Depreciation, amortization and provision (249) (228) EBIT (228) 447 (a) Share of profits/losses of associates and JVs (273) 33 (a) AccorInvest recovery Non-recurring items 554 63 (b) (b) In 2021, mostly H World Group Operating pro
Slide 13: Back to Recurring Free Cash Flow Generation
Back to Recurring Free Cash Flow Generation In € millions FY 2021 FY 2022 EBITDA 22 675 Cost of net debt (83) (75) Income tax (cash) (36) (65) Reimbursement of lease liabilities (88) (73) Non-cash items & other 49 49 FUNDS FROM OPERATIONS (137) 511 Recurring investment / Capex (122) (159) Working ca
Slide 14: Wise Financing Management
Wise Financing Management Debt profile as of December 2022 Benefit from balance sheet initiatives excluding Hybrid debt In €m Sustainability Linked Bond 1 Sound debt profile coupled with a solid liquidity (€2.8bn at Dec 22 Convertible incl. €1.2bn undrawn credit facility) Bond Commercial Paper 2 Fav
Slide 15: FY22 Social & Environment Targets Achieved
FY22 Social & Environment Targets Achieved Carbon Single-use Diversity ESG training emissions plastics & Inclusion 97% 84% of employees 39% of the hotels have (16)% of women in removed completed scopes 1 & 2 management single-use School for committee plastics Change e-training
Slide 16: Return to shareholder: Dividend in line with historical level
Sofitel Legend Casco Viejo Condesa, Panama Return to shareholder: Dividend in line with historical level Recurring Free Cash Flow €373m Ordinary dividend per share €0.71 (Historical dividend policy: 50% of Recurring FCF) Exceptional dividend per share €0.34 Total dividend to be proposed for 2022 (1)
Slide 17: Closing remarks
Closing remarks Sébastien Bazin Chairman & CEO
Slide 18: New Organisation Going Forward
Andra Hotel Mgallery, USA New Organisation Going Forward 1 Implemented since January 1st, 2023 2 Luxury & Lifestyle brand-led organisation strengthened with new talents 3 Premium, Midscale & Economy geographic-led organisation boosted with new leadership 4 H1 23 reporting reflecting new organisation
Slide 19: Conclusion
Fairmont Tazi Palace, Morocco Conclusion 1 Reap the benefit of the simplified, more focused model 2 Sustained activity for entering 2023 with a RevPAR expectation of 5% to 9% 3 Pursued ESG efforts to lead industry best practices 4 Back to historical return of capital to shareholders policy
Slide 20: Appendices
Appendices Tribe Le Touquet, France
Slide 21: HotelServices EBITDA margin
Mercure Hida Takayama, Japan HotelServices EBITDA margin In € millions Management & Services to HotelServices Franchise Owners Revenue 1,052 2,143 3,194 2022 EBITDA 737 (75) 661 Margin 70% (4)% 21% Revenue 518 1,064 1,582 2021 EBITDA 275 (182) 93 Margin 53% (17)% 6%
Slide 22: Management & Franchise EBITDA
Mgallery Too Hotel Paris, France Management & Franchise EBITDA FY FY L/L L/L In € millions 2021 2022 vs. FY 21 vs. FY 19 South Europe 96 204 +112% (4)% North Europe 47 161 +229% (23)% ASPAC 51 96 +79% (34)% IMEAT 41 144 +262% +56% Americas 40 131 +200% +6% Total 275 737 +161% (5)%
Slide 23: Positive Services to Owners EBITDA in FY 22
Positive Services to Owners EBITDA in FY 22 Hotel M&F Services to Owners Services SMDL(1) Reimbursed In € millions STO (2) (1) & Other costs (2) (1)+(2) (a) (b) (a)+(b) Revenue 1,052 870 1,273 2,143 3,194 2022 EBITDA 737 (75) (0) (75) 661 Revenue 518 509 555 1,064 1,582 2021 EBITDA 275 (182) (0) (18
Slide 24: FY 2022 Revenue vs. FY 2021 – From Like-for-Like to Reported
FY 2022 Revenue vs. FY 2021– From Like-for-Like to Reported Like-for-Like HotelServices: +89% L/L vs. FY 21 (1) +80% €1,758m Hotel Assets & Other: +63% L/L vs. FY 21 (1) Perimeter Mainly Paris Society and Pullman Montparnasse +3% €72m Positive currency effect Currency +9% €189m • USD: €101m • BRL: €
Slide 25: Q4 22 Group Revenue
Q4 22 Group Revenue Q4 Q4 Reported L/L L/L In € millions 2021 2022 vs. Q4 21 vs. Q4 21 vs. Q4 19 HotelServices 597 1,044 +75% +65% +29% Hotel Assets & Other 199 338 +70% +54% +14% Holding & Intercos (4) (32) N/A N/A N/A Total 792 1,350 +70% +59% +24% Ibis Style Maceio Pajucara, Brazil
Slide 26: Q4 22 Management & Franchise Revenue
Q4 22 Management & Franchise Revenue Q4 Q4 L/L L/L In € millions 2021 2022 vs. Q4 21 vs. Q4 19 South Europe 53 69 +35% +4% North Europe 31 57 +84% (25)% ASPAC 34 50 +40% (15)% IMEAT 34 71 +101% +108% Americas 52 62 +7% +32% Total 204 309 +47% +12% Pullman Orchard, Japan
Slide 27: Q4 2022 Revenue vs. Q4 2021 – From Like-for-Like to Reported
Q4 2022 Revenue vs. Q4 2021– From Like-for-Like to Reported Like-for-Like HotelServices: +65% L/L vs. Q4 21 (1) +59% €471m Hotel Assets & Other: +54% L/L vs. Q4 21 (1) Perimeter Mainly Paris Society and Pullman Montparnasse +3% €26m Positive currency effect Currency +8% €60m • USD: €34m • BRL: €10m
Slide 28: RevPAR
\3\ RevPAR
Slide 29: RevPAR – Systemwide
RevPAR – Systemwide Q4 2022 vs. Q4 2019 H2 2022 vs. H2 2019 FY 2022 vs. FY 2019 OR ARR RevPAR OR ARR RevPAR OR ARR RevPAR Lux. & Upscale 59.6 (6.3) 200 37.8 119 25.3 60.8 (6.4) 196 36.6 119 24.0 55.2 (11.1) 186 29.9 103 9.0 Midscale 63.8 (5.4) 99 17.9 63 9.0 65.7 (5.9) 99 17.8 65 8.4 60.7 (9.5) 94 1
Slide 30: RevPAR – Geographical Breakdown (1/2)
RevPAR – Geographical Breakdown (1/2) Q4 2022 vs. Q4 2019 H2 2022 vs. H2 2019 FY 2022 vs. FY 2019 OR ARR RevPAR OR ARR RevPAR OR ARR RevPAR Lux. & Upscale 60.5 (3.5) 247 28.1 149 21.5 66.2 (4.3) 266 27.1 176 19.8 59.9 (7.4) 253 22.8 151 10.2 Midscale 64.1 (1.7) 121 15.4 78 12.5 68.3 (2.4) 122 15.3 8
Slide 31: RevPAR – Geographical Breakdown (2/2)
RevPAR – Geographical Breakdown (2/2) Q4 2022 vs. Q4 2019 H2 2022 vs. H2 2019 FY 2022 vs. FY 2019 OR ARR RevPAR OR ARR RevPAR OR ARR RevPAR Lux. & Upscale 52.9 (12.8) 135 12.9 72 (7.9) 54.2 (12.2) 130 10.7 71 (8.6) 49.1 (16.1) 122 3.6 60 (20.9) Midscale 62.5 (9.5) 85 11.7 53 (2.2) 62.6 (10.9) 84 11.
Slide 32: RevPAR – France
RevPAR – France Q4 2022 vs. Q4 2019 H2 2022 vs. H2 2019 FY 2022 vs. FY 2019 OR ARR RevPAR OR ARR RevPAR OR ARR RevPAR Lux. & Upscale 61.0 (2.4) 264 31.1 161 26.5 65.4 (3.0) 277 29.1 181 23.9 59.6 (5.6) 259 23.4 154 13.6 Midscale 64.3 (0.5) 125 14.6 81 13.7 68.2 (1.7) 126 14.5 86 11.8 63.2 (5.1) 121
Slide 33: Portfolio
\4\ Portfolio
Slide 34: Portfolio & Pipeline as of December 31st, 2022
Portfolio & Pipeline as of December 31st, 2022 In rooms, as of December 2022 253k Network Hotels 5,445 181k 165k Rooms 802k 100k 105k 98k Pipeline 41k 43k Hotels 1,247 18k 14k Rooms 216k South Europe North Europe Asia-Pacific IMEAT Americas
Slide 35: Portfolio as of December 31st, 2022 (1/2)
Portfolio as of December 31st, 2022 (1/2) OWNED & LEASED MANAGED FRANCHISED TOTAL # hotels # rooms # hotels # rooms # hotels # rooms # hotels # rooms Luxury & Upscale 2 1,339 39 7,442 37 3,081 78 11,862 Midscale 1 51 158 24,051 374 36,122 533 60,224 Economy 0 0 237 30,337 1,065 78,509 1,302 108,846
Slide 36: Portfolio as of December 31st, 2022 (2/2)
Portfolio as of December 31st, 2022 (2/2) OWNED & LEASED MANAGED FRANCHISED TOTAL # hotels # rooms # hotels # rooms # hotels # rooms # hotels # rooms Luxury & Upscale 2 525 191 51,058 28 6,827 221 58,410 Midscale 5 796 85 17,306 23 4,391 113 22,493 Economy 10 1,681 72 13,581 15 2,309 97 17,571 IMEAT
Slide 37: Exchange rates
\5\ Exchange rates
Slide 38: Q4 2022 Exchange Rates
Q4 2022 Exchange Rates Q4 2021 Q4 2022 Q4 2022 1€ = X foreign currency Average Rate Average Rate vs. Q4 2021 American Dollar (USD) 1.15 1.01 (11)% Australian Dollar (AUD) 1.57 1.55 (1)% Brazilian Real (BRL) 6.38 5.34 (16)% Turkish Lira (TRY) 12.52 18.88 +51% Canadian Dollar (CAD) 1.44 1.38 (11)% Bri
Slide 39: FY 2022 Exchange Rates
FY 2022 Exchange Rates FY 2021 FY 2022 FY 2022 1€ = X foreign currency Average Rate Average Rate vs. FY 2021 American Dollar (USD) 1.18 1.05 (11)% Australian Dollar (AUD) 1.58 1.52 (4)% Brazilian Real (BRL) 6.38 5.45 (15)% Turkish Lira (TRY) 10.38 17.31 +67% Canadian Dollar (CAD) 1.49 1.37 (8)% Brit
Slide 40: Glossary
\8\ Glossary
Slide 41: Glossary
Glossary Region organization • South Europe (including France) • North Europe (including UK and Germany) • ASPAC: Asia Pacific Region including Greater China & Australia • IMEAT: India, Middle-East, Africa & Turkey • Americas: North, Central and South America & Caribbean Like-for-like (L/L) definiti
Slide 42: 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