Slide 1: FY 2024 Results
FY 2024 Results F e b r u a r y 2 0 th, 2 0 2 5
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 - FY 2024 RESULTS 3
Slide 4: Navigating well through a contrasting environment
Navigating well through a contrasting environment Geopolitics Eco-consciousness Technology • A fragmented world affected by conflicts • 2024 hottest year ever: +1.5°C • 72% of organizations • Contrasted economic have now adopted AI prospects (USA, EU, China) • Overtourism: 95% of travelers in 5% of
Slide 5: International travel back to 2019 level – Still Upside in APAC
International travel back to 2019 level – Still Upside in APAC FY 24 International travel back to 2019 level Significant recovery upside in APAC Million international travelers International travel by destination in 2024 vs. pre-pandemic level +3-5% yoy expected 1,459 +32% in 2025 1,441 1,203 +11% y
Slide 6: 75% of travelers consider leisure trips to be an important annual priority
75% of travelers consider leisure trips to be an important annual priority Experiences over Rise of new Responsible Travel Bleisure Destination destinations Rise of Gig Tripping Rise of climate issues Alternative Personal balance Destinations • “Bleisure” combines • 2023: Sports tourism • 75% of glo
Slide 7: FY 2024 Results – Martine Gerow, Group CFO
FY 2024 Results Martine Gerow GROUP CFO ACCOR - FY 2024 RESULTS 7
Slide 8: FY 2024 Financial Highlights
FY 2024 Financial Highlights Ending 2024 on a strong note Solid delivery of new record financial results Robust Q4 24 RevPAR +5.8% L/L Revenue at €5,606m +11% vs. FY 23 1 vs. Q4 23 1 M&F revenue at €1,393m +7% Recurring EBITDA(1) at €1,120m FY 24 RevPAR +5.7% L/L vs. FY23 2 2 in the high end of the
Slide 9: Ending the Year with a Solid +5.8% Q4 RevPAR
Ending the Year with a Solid +5.8% Q4 24 RevPAR Premium, Midscale & Economy Luxury & Lifestyle +12% +11% +10% +9% +5% +4% +2% ENA MEA APAC Americas Total Total Luxury Lifestyle Total Total Occupancy Rate Average Room Rate XX% RevPAR L/L year-on-year ACCOR - FY 2024 RESULTS 9
Slide 10: Portfolio as of December 31st, 2024
Portfolio as of December 31st, 2024 Premium, Midscale & Economy Luxury & Lifestyle LTM Net Unit Growth M&F Revenue LTM Net Unit Growth M&F Revenue +2.8% €1.2k/room +7.5% €3.9k/room In rooms In rooms 326k 325k 86k 115k 72k 41k 50k 26k 30k 12k ENA MEA APAC Americas Luxury Lifestyle Network Pipeline AC
Slide 11: +11% Group Revenue Growth in FY 2024
Delano Dubai, UAE +11% Group Revenue Growth in FY 2024 In € millions FY 2023 FY 2024 Reported change M&F 854 899 +5% STO 1,076 1,158 +8% HA & OTHER 1,030 1,045 +1% PREM., MID. & ECO. 2,960 3,103 +5% M&F 446 494 +11% STO 1,359 1,479 +9% HA & OTHER 371 614 +66% LUXURY & LIFESTYLE 2,175 2,587 +19% INTE
Slide 12: +7% M&F Revenue Growth
+7% M&F Revenue Growth In € millions FY 2023 FY 2024 Reported change ENA 512 537 +5% MEA APAC 270 290 +7% AMERICAS 71 72 +2% PREM., MID. & ECO. 854 899 +5% LUXURY 326 337 +3% LIFESTYLE 120 157 +31% LUXURY & LIFESTYLE 446 494 +11% TOTAL 1,300 1,393 +7% HANDWRITTEN NUSA DUA BEACH, INDONESIA ACCOR - FY
Slide 13: Group Recurring EBITDA up +12%
Novotel Abidjan Marcory, Ivory Coast Group Recurring EBITDA(1) up +12% In € millions FY 2023 FY 2024 Reported change M&F 611 655 +7% STO 24 43 NM HA & OTHER 115 111 (3)% PREM., MID. & ECO. 750 809 +8% M&F 298 333 +12% STO 25 20 NM HA & OTHER 30 74 +143% LUXURY & LIFESTYLE 354 427 +21% HOLDING (101)
Slide 14: From Recurring EBITDA to Net Income
From Recurring EBITDA to Net Income In € millions FY 2023 FY 2024 RECURRING EBITDA(1) 1,003 1,120 OTHER INCOME & EXPENSES 12 6 DEPRECIATION & AMORTIZATION (279) (341) OPERATING PROFIT 735 786 SHARE OF PROFITS/LOSSES OF ASSOCIATES AND JVS 44 188 NET FINANCIAL EXPENSE (100) (124) PROFIT BEFORE TAX 679
Slide 15: Record Recurring Free Cash Flow
Record Recurring Free Cash Flow In € millions FY 2023 FY 2024 RECURRING EBITDA(1) 1,003 1,120 COST OF NET DEBT (59) (62) INCOME TAX (CASH) (144) (169) REIMBURSEMENT OF LEASE LIABILITIES (100) (106) NON-CASH ITEMS 43 35 RECURRING INVESTMENT / CAPEX (218) (221) WORKING CAPITAL AND CONTRACT ASSETS/LIAB
Slide 16: Strong Balance Sheet & Attractive Shareholder Return
Strong Balance Sheet & Attractive Shareholder Return Benefit from balance sheet initiatives Solid shareholder return track record Debt maturity extension % of market cap 1 (beginning of the year) 11.0% with new senior bond issuance €600m 7-year bond with a 3.875% coupon 7.3% 7.5% 6.5% Successful ref
Slide 17: Accor Delivered its Guidance in 2024 and Confirms Mid-Term Perspectives
Accor Delivered its Guidance in 2024 and Confirms Mid-Term Perspectives Guidance FY24 Actual FY24 Guidance FY23-27 REVPAR GROWTH (YOY) +4-5% +5.7% +3-4% NUG +3-4% +3.5% +3-5% M&F REVENUE GROWTH N/A +7% +6-10% SERVICES TO OWNERS EBITDA Positive €63m Positive GROUP RECURRING EBITDA(1) €1,100-1,125m €1
Slide 18: Closing remarks
Closing remarks Sébastien Bazin CHAIRMAN & CEO ACCOR - FY 2024 RESULTS 18
Slide 19: FY24 Social & Environmental Targets
FY24 Social & Environmental Targets Water Eco-certified Diversity & Consumption hotel Inclusion BASELINE ECO-CERTIFICATION WOMEN MEASUREMENT IMPLEMENTATION IN VP & ABOVE POSITIONS Target 80% of managed hotels Target 30% of hotels Target 39% 92% 50% of franchised hotels 36% 39% 68% BUAHAN, A BANYAN T
Slide 20: FY 2024 Key Takeaways
FY 2024 Key Takeaways 1 Results fully in line with guidance Solid execution of the new organization 2 with increased value from development 3 Strong dynamic of ALL loyalty members enrollment Consistent focus on shareholder return with €686m returned in 2024 4 i.e. 7.5% of the market capitalization(1
Slide 21: Enriched Pipeline Quality
Enriched Pipeline Quality Slight increase in volume Nearly doubled in value (k rooms) (M&F fees €m) +90% +12% 2019 2024 2019 2024 ACCOR - FY 2024 RESULTS 21
Slide 22: 2025 Priorities
2025 Priorities 1 Continue delivering our 2023-2027 targets Accelerate in high growth markets 2 (>60% of 2025 openings in MEA APAC) 3 Improve Group’s operating model efficiencies 4 Proceed with the AccorInvest’s stake disposal 5 Execute a new €440m share buyback in 2025 GRAND MERCURE SANYA YALONG BA
Slide 23: Appendices
Swissôtel Damian Jasna, Slovakia Appendices Appendices SWISSÔTEL DAMIAN JASNA, SLOVAKIA ACCOR - FY 2024 RESULTS 23
Slide 24: FY 2024 Revenue vs. FY 2023 – From Like-for-Like to Reported
FY 2024 Revenue vs. FY 2023 – From Like-for-Like to Reported +9% +4% (2)% +11% Like-for-Like Perimeter Currency Reported €444m €223m €(117)m €550m Mainly Negative currency effect Potel & Chabot USD: €(2)m and Rikas AUD: €(6)m CAD: €(6)m ARS: €(14)m BRL: €(21)m EGP: €(29)m TRY: €(32)m ACCOR - FY 2024
Slide 25: FY 2024 Recurring EBITDA vs. FY 2023 – From Like-for-Like to Reported
FY 2024 Recurring EBITDA(1) vs. FY 2023 – From Like-for-Like to Reported +14% +3% (5)% +12% Like-for-Like Perimeter Currency Reported €138m €32m €(52)m €117m Mainly Negative currency effect Potel & Chabot AUD: €(2)m and Rikas BRL: €(4)m ARS: €(9)m TRY: €(11)m EGP: €(21)m (1) R E C U R R I N G EBITDA
Slide 26: Q4 2024 Group Revenue
Q4 2024 Group Revenue In € millions Q4 2023 Q4 2024 Reported change M&F 226 230 +2% STO 275 302 +10% HA & OTHER 274 276 +1% PREM., MID. & ECO. 775 808 +4% M&F 127 132 +4% STO 361 397 +10% HA & OTHER 128 180 +40% LUXURY & LIFESTYLE 616 709 +15% INTERCOS (23) (22) N/A TOTAL 1,368 1,494 +9% RAFFLES AT
Slide 27: Q4 2024 Management & Franchise Revenue
Q4 2024 Management & Franchise Revenue In € millions Q4 2023 Q4 2024 Reported change ENA 131 131 0% MEA APAC 76 82 +8% AMERICAS 18 17 (8)% PREM., MID. & ECO. 226 230 +2% LUXURY 93 93 +1% LIFESTYLE 35 39 +13% LUXURY & LIFESTYLE 127 132 +4% TOTAL 353 363 +3% SLS BARCELONA, SPAIN ACCOR - FY 2024 RESULT
Slide 28: Q4 2024 Revenue vs. Q4 2023 – From Like-for-Like to Reported
Q4 2024 Revenue vs. Q4 2023 – From Like-for-Like to Reported +7% +4% (2)% +9% Like-for-Like Perimeter Currency Reported €101m €50m €(24)m €126m Mainly Negative currency effect Rikas AUD: €3m CAD: €(2)m ARS: €(2)m BRL: €(12)m EGP: €(10)m TRY: €(3)m ACCOR - FY 2024 RESULTS 28
Slide 29: RevPAR
3 RevPAR ACCOR - FY 2024 RESULTS 29
Slide 30: RevPAR – Systemwide
RevPAR – Systemwide Q4 2024 vs. Q4 2023 H2 2024 vs. H2 2023 FY 2024 vs. FY 2023 OR ARR REVPAR OR ARR REVPAR OR ARR REVPAR ENA 66.3 1.3 101 (0.2) 67 1.9 69.9 0.5 106 3.4 74 4.2 67.3 0.3 103 2.9 69 3.3 MEA APAC 70.0 1.2 88 3.6 61 5.3 70.1 1.1 83 1.5 58 3.1 68.4 1.6 85 3.6 58 6.1 AMERICAS 61.5 2.8 71 7
Slide 31: Portfolio
4 Portfolio ACCOR - FY 2024 RESULTS 31
Slide 32: Portfolio as of December 31st, 2024
Portfolio as of December 31st, 2024 Owned & Leased Managed Franchised Total #HOTELS #ROOMS #HOTELS #ROOMS #HOTELS #ROOMS #HOTELS #ROOMS ENA 8 2,493 806 125,570 2,107 198,031 2,921 326,094 MEA APAC 39 7,003 804 186,579 902 131,390 1,745 324,972 AMERICAS 54 10,912 165 27,869 231 33,298 450 72,079 PREM
Slide 33: Exchange rates
5 Exchange rates ACCOR - FY 2024 RESULTS 33
Slide 34: FY 2024 Exchange Rates
FY 2024 Exchange Rates 1 foreign currency = X euro FY 2023 FY 2024 FY 2024 Average Rate Average Rate vs. FY 2023 AMERICAN DOLLAR (USD) 0.92 0.92 (0)% AUSTRALIAN DOLLAR (AUD) 0.61 0.61 (1)% BRAZILIAN REAL (BRL) 0.18 0.17 (7)% TURKISH LIRA (TRY) 0.04 0.03 (28)% CANADIAN DOLLAR (CAD) 0.69 0.68 (1)% BRI
Slide 35: Q4 2024 Exchange Rates
Q4 2024 Exchange Rates 1 foreign currency = X euro Q4 2023 Q4 2024 Q4 2024 Average Rate Average Rate vs. Q4 2023 AMERICAN DOLLAR (USD) 0.93 0.93 0% AUSTRALIAN DOLLAR (AUD) 0.60 0.61 +1% BRAZILIAN REAL (BRL) 0.19 0.16 (14)% TURKISH LIRA (TRY) 0.03 0.03 (17)% CANADIAN DOLLAR (CAD) 0.68 0.67 (2)% BRITI
Slide 36: Glossary
6 Glossary ACCOR - FY 2024 RESULTS 36
Slide 37: 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 38: ACCOR
ACCOR