Slide 1: FY 2021 Results
FY 2021 Results February 24th, 2022 A ACCOR
Slide 2: Disclaimer and limitations
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 on 2021, which will be separately published on the website (www.group.accor.com). This presentation is for inform
Slide 3: Opening remarks
Opening remarks Sébastien Bazin Chairman & CEO
Slide 4: The Covid Accelerated Secular Trends
The Covid Accelerated Secular Trends Travel Desire even Stronger New Booking Patterns e.g. Bleisure Planet Preservation is a Must Rise of Premium Leisure Experiences Live & Work from anywhere Reinventing Global Events
Slide 5: Leisure Recovery will more than Offset International Lag by 2023
“Leisure” Recovery will more than Offset “International” Lag by 2023 Business Travel Spend vs. 2019 Leisure Travel Spend vs. 2019 20% 20% 0% 0% -20% -20% -40% -40% -60% -60% -80% -80% International Domestic International Domestic 20% 40% 40% 2020 2021 2022 2023 2024 % in Accor mix Source: Oxford Tou
Slide 6: 2021 Business Highlights
2021 Business Highlights Consolidated brand Captured rebound Signed opportunities powerhouse 1 Strong pent-up demand 1 Major events for travel as soon as 1 Ennismore completion restrictions were lifted 2 Translated in pricing 2 New Luxury soft brand above 2019 in some destinations 2 Enriched partner
Slide 7: FY 2021 Results
FY 2021 Results Jean-Jacques Morin Deputy CEO
Slide 8: 2021 Financial Highlights
2021 Financial Highlights Strict operational discipline Significant trading improvement better than guidance 1 Systemwide RevPAR 1 €22m EBITDA (46)% L/L vs. 2019 H2 21 EBITDA at €142m Monthly sequential EBITDA sensitivity at €16.4m improvement since April per RevPAR point 2 Net Unit Growth 2 €(246)m
Slide 9: RESET Complete per Plan by end-2022
RESET Complete per Plan by end-2022 FY20 €20m cost savings impact in FY20 EBITDA • Immediate savings post-announcement in Aug. 2020 €110m cost savings impacting positively EBITDA FY21 Better than €70m+ guidance • Swift execution of the severance plan • Strict control on contractors €200m run-rate of
Slide 10: FY21 Net System Growth at 3%, FY22 at 3.5%
FY21 Net System Growth at 3% in line with Guidance, FY22 Net System Growth at 3.5% Geographical breakdown Historical trend 240k 778k In rooms, In rooms 740k 753k as of December 2021 704k 180k 616k 162k 95k 102k 93k 208k 212k 214k 45k 198k 41k 161k 18k 15k South North Asia-Pacific IMEAT Americas 2017
Slide 11: Among Notable 2021 Openings
Among Notable 2021 Openings Fairmont Century Plaza Mövenpick Hobart Novotel Jumeirah Triangle 400 rooms, Los Angeles, USA 221 rooms, Hobart, Australia 375 rooms, Dubai, UAE 25hours One Central JO&JOE Vienna ibis Timisoara City Center 434 rooms, Dubai, UAE 115 rooms, Vienna, Austria 200 rooms, Timiso
Slide 12: Sequential RevPAR Improvement with Sustained Pricing Power
Sequential RevPAR Improvement with Sustained Pricing Power South Europe North Europe Asia Pacific -17% -25% -23% -24% -37% -34% -39% -38% -51% -55% -48% -49% -57% -58% -69% -63% -63% -68% -74% -77% -81% -82% -90% -92% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2020 2021
Slide 13: Group Revenue Growth in line with RevPAR
Group Revenue Growth in line with RevPAR FY FY Reported L/L L/L In € millions 2020 2021 vs. FY 20 vs. FY 20 vs. FY 19 HotelServices 1,142 1,582 +39% +36% (46)% Hotel Assets & Other 488 633 +30% +29% (35)% Holding & Intercos (9) (11) N/A N/A N/A Total 1,621 2,204 +36% +34% (42)% Sofitel Ambassador, S
Slide 14: M&F Revenue mildly Distorted by Incentives Ramp-up
M&F Revenue mildly Distorted by Incentives Ramp-up FY FY L/L L/L In € millions 2020 2021 vs. FY 20 vs. FY 19 South Europe 80 141 +72% (47)% North Europe 51 91 +81% (64)% ASPAC 72 98 +34% (52)% IMEAT 36 77 +112% (43)% Americas 52 111 +97% (41)% Total 292 518 +74% (51)% Sofitel Baru Calablanca, Colomb
Slide 15: Group EBITDA back in Positive Territory
Group EBITDA back in Positive Territory FY FY In € millions 2020 2021 HotelServices (257) 93 Hotel Assets & Other (22) 48 Holding & Intercos (112) (119) Total (391) 22 Mgallery V Villas, Phuket, Thailand
Slide 16: Net Profit back in Positive Territory
Net Profit back in Positive Territory In € millions FY 2020 FY 2021 EBITDA (391) 22 Depreciation, amortization and provision (274) (249) EBIT (665) (228) (a) Share of net losses of associates and JVs (578) (273) (a) Driven by AccorInvest Non-recurring items (o/w impairments) (958) 554 (b) (b) In 202
Slide 17: Cash Burn Translates Discipline on Capex & Working Capital
Cash Burn Translates Discipline on Capex & Working Capital In € millions FY 2020 FY 2021 EBITDA (391) 22 Cost of net debt (66) (83) Income tax (cash) 16 (36) Reimbursement of lease liabilities (83) (88) 160 49 (a) (a) Mainly Share-based compensation Non-cash items & other FUNDS FROM OPERATIONS (365)
Slide 18: Strengthened Debt Profile following SLB issuance
Strengthened Debt Profile following SLB issuance 2021 Financing Initiatives Debt profile(1) as of December 2021 In €m 1 Inaugural Sustainability-Linked Bond (SLB) €700m with 7-year maturity and annual Sequana coupon of 2.375% bond HQ loan Sustainability 3.5x oversubscribed 258 -linked bond 2 Sound L
Slide 19: Maintained Disciplined Approach to Redeploy Cash
Maintained Disciplined Approach to Redeploy Cash Accentuate To ensure return And balance sheet profitability to shareholders strengthening 1 Capture activity strong 1 Restore a recurring 1 Maintain agile debt rebound initiated in 2021 management and strict dividend based on 50% cash control of recur
Slide 20: Closing remarks
Closing remarks Sébastien Bazin Chairman & CEO
Slide 21: Key Takeaway #1: Focus on Guest Experience
Key Takeaway #1: Focus on Guest Experience 1 Local stays 2 F&B 3 Wellness 4 Disruptive concepts 5 New destinations Copyright Pexels
Slide 22: Faster RevPAR and F&B recovery at Ennismore
Faster RevPAR recovery Faster F&B recovery at Ennismore RevPAR vs. 2019 (8)% Figures vs. 2019 (2)% (6)% (20)% Ennismore (8)% F&B Ennismore (27)% (20)% (33)% Ennismore (46)% (37)% RevPAR Accor (46)% (64)% (62)% (58)% (64)% (64)% Q1 21 Q2 21 Q3 21 Q4 21 Q1 21 Q2 21 Q3 21 Q4 21 The Hoxton, Paris, Franc
Slide 23: Key Takeaway #2: Digital Focus
Key Takeaway #2: Digital Focus 1 A comprehensive platform 2 Enriched online experiences 3 Seamless travel Copyright Getty
Slide 24: A Leading Global Hospitality Tech Player
: a Leading Global Hospitality Tech Player A one-stop shop solution for hoteliers Now also managing 100%-owned by Accor Central Reservation System for Accor 12k 5k Hotels, Chains, Accor portfolio • Acquired in 2014 • Acquired in 2017 Resorts & Apartment • Digital Marketing • SaaS solutions for hotel
Slide 25: Key Takeaway #3: Sustainability Consciousness
Key Takeaway #3: Sustainability Consciousness 1 Desire for authenticity 2 Social elevation 3 Local communities 4 Acting for responsible tourism Copyright Pexels
Slide 26: Our 2022 priorities
Our 2022 priorities 1 Keep capturing the rebound initiated since April 2021 2 Attract and retain talents 3 Develop our network through higher fee generation per room 4 Pursue roll-out of our ESG strategy 5 Be at the forefront of innovation & lifestyle experiences
Slide 27: Appendices
Appendices Raffles The Palm Dubai, UAE
Slide 28: HotelServices EBITDA margin
HotelServices EBITDA margin In € millions Management & Services to HotelServices Franchise Owners Revenue 518 1,064 1,582 2021 EBITDA 275 (182) 93 Margin +53% (17)% +6% Revenue 292 850 1,142 2020 EBITDA 25 (282) (257) Margin +8% (33)% (23)% Raffles Udaipur, India
Slide 29: Management & Franchise EBITDA
Management & Franchise EBITDA FY FY L/L L/L In € millions 2020 2021 vs. FY 20 vs. FY 19 South Europe 14 96 N/A (54)% North Europe (11) 47 N/A (74)% ASPAC 21 51 N/A (64)% IMEAT 1 41 N/A (63)% Americas 0 40 N/A (67)% Total 25 275 N/A (64)% Sofitel Adelaide, Australia
Slide 30: EBITDA Impact on HotelServices notably driven by SMDL
EBITDA Impact on HotelServices notably driven by SMDL Hotel M&F Services to Owners Services Reimbursed Other In € millions SMDL(1) STO (2) (1) costs services (2) (1)+(2) (a) (b) (c) (a)+(b)+(c) Revenue 518 425 555 84 1,064 1,582 2021 EBITDA 275 (172) (0) (10) (182) 93 Revenue 292 322 438 90 850 1,14
Slide 31: FY 2021 Revenue – From Like-for-Like to Reported
FY 2021 Revenue – From Like-for-Like to Reported Like-for-Like HotelServices: 36% L/L vs. 2020 (1) 34% €549m Hotel Assets & Other: 29% L/L vs. 2020 (1) Perimeter Mainly sbe integration 2% €47m Slight negative currency effect Currency (1)% €(13)m • AUD: €24m • BRL: €(8)m • TRY: €(9)m • USD: €(21)m Re
Slide 32: Q4 21 Group Revenue
Q4 21 Group Revenue Q4 Q4 Reported L/L L/L In € millions 2020 2021 vs. Q4 20 vs. Q4 20 vs. Q4 19 HotelServices 268 597 +123% +109% (25)% Hotel Assets & Other 107 199 +86% +54% (31)% Holding & Intercos 1 (4) N/A N/A N/A Total 376 792 +111% +93% (24)% MGallery Heritage Hotel Fermai, Croatia
Slide 33: Q4 21 Management & Franchise Revenue
Q4 21 Management & Franchise Revenue Q4 Q4 L/L L/L In € millions 2020 2021 vs. Q4 20 vs. Q4 19 South Europe 21 53 +133% (20)% North Europe 5 31 +436% (56)% ASPAC 30 34 +8% (41)% IMEAT 11 34 +235% +4% Americas 13 52 +256% +12% Total 81 204 +139% (25)% 25Hours Florence, Italy
Slide 34: Q4 Revenue – From Like-for-Like to Reported
Q4 Revenue – From Like-for-Like to Reported Like-for-Like HotelServices: 109% L/L vs. Q4 20 (1) 93% €349m Hotel Assets & Other: 54% L/L vs. Q4 20 (1) Perimeter Mainly sbe integration 16% €59m Slight positive currency effect Currency 2% €8m • AUD: €5m • CAD: €3m • USD: €3m • TRY: €(3)m • BRL: €(1)m R
Slide 35: RevPAR
\3\ RevPAR
Slide 36: RevPAR – Systemwide
RevPAR – Systemwide Q4 2021 vs. Q4 2019 H2 2021 vs. H2 2019 FY 2021 vs. FY 2019 OR ARR RevPAR OR ARR RevPAR OR ARR RevPAR Lux. & Upscale 46.7 (19.1) 150 6.8 70 (23.0) 44.7 (23.3) 144 2.8 64 (31.3) 39.2 (27.5) 134 (5.7) 52 (43.6) Midscale 52.3 (19.2) 78 (7.0) 41 (31.9) 51.2 (22.4) 78 (7.4) 40 (35.5)
Slide 37: RevPAR – Geographical Breakdown (1/2)
RevPAR – Geographical Breakdown (1/2) Q4 2021 vs. Q4 2019 H2 2021 vs. H2 2019 FY 2021 vs. FY 2019 OR ARR RevPAR OR ARR RevPAR OR ARR RevPAR Lux. & Upscale 50.9 (14.4) 210 8.5 107 (14.5) 53.0 (19.0) 216 6.0 115 (20.7) 36.8 (33.2) 214 4.5 79 (43.8) Midscale 53.7 (12.4) 103 (1.2) 55 (19.6) 54.1 (17.2)
Slide 38: RevPAR – Geographical Breakdown (2/2)
RevPAR – Geographical Breakdown (2/2) Q4 2021 vs. Q4 2019 H2 2021 vs. H2 2019 FY 2021 vs. FY 2019 OR ARR RevPAR OR ARR RevPAR OR ARR RevPAR Lux. & Upscale 42.4 (22.9) 96 (20.4) 41 (46.8) 39.9 (26.9) 88 (22.5) 35 (52.3) 41.0 (23.7) 89 (22.3) 37 (49.5) Midscale 49.3 (29.2) 63 (17.8) 31 (49.4) 46.0 (33
Slide 39: RevPAR – France
RevPAR – France Q4 2021 vs. Q4 2019 H2 2021 vs. H2 2019 FY 2021 vs. FY 2019 OR ARR RevPAR OR ARR RevPAR OR ARR RevPAR Lux. & Upscale 55.7 -11.9 219 +8.6 122 -10.6 57.0 (16.7) 219 6.8 125 (17.3) 39.4 -31.3 217 +4.2 86 -42.0 Midscale 54.4 -10.7 106 -2.0 58 -18.0 54.6 (15.9) 108 (1.7) 59 (23.7) 40.7 -2
Slide 40: Portfolio
\4\ Portfolio
Slide 41: Portfolio as of December 31st, 2021 (1/2)
Portfolio as of December 31st, 2021 (1/2) OWNED & LEASED MANAGED FRANCHISED TOTAL # hotels # rooms # hotels # rooms # hotels # rooms # hotels # rooms Luxury & Upscale 2 1 339 39 7 163 36 2 989 77 11 491 Midscale 1 51 173 25 512 358 34 123 532 59 686 Economy 0 0 271 33 178 1 033 75 969 1 304 109 147
Slide 42: Portfolio as of December 31st, 2021 (2/2)
Portfolio as of December 31st, 2021 (2/2) OWNED & LEASED MANAGED FRANCHISED TOTAL # hotels # rooms # hotels # rooms # hotels # rooms # hotels # rooms Luxury & Upscale 2 525 180 46 902 28 7 156 210 54 583 Midscale 5 796 83 15 742 23 4 391 111 20 929 Economy 10 1 681 73 13 620 15 2 309 98 17 610 IMEAT
Slide 43: Exchange rates
\5\ Exchange rates
Slide 44: 2021 Exchange Rates
2021 Exchange Rates FY 2020 FY 2021 FY 2021 1€ = X foreign currency Average Rate Average Rate vs. FY 2020 American Dollar (USD) 1.14 1.18 (4)% Australian Dollar (AUD) 1.66 1.58 5% Brazilian Real (BRL) 5.86 6.38 (9)% Turkish Lira (TRY) 8.01 10.38 (30)% Canadian Dollar (CAD) 1.53 1.49 3% British Sterl
Slide 45: Q4 21 Exchange Rates
Q4 21 Exchange Rates Q4 2020 Q4 2021 Q4 2021 1€ = X foreign currency Average Rate Average Rate vs. Q4 2020 American Dollar (USD) 1.19 1.15 4% Australian Dollar (AUD) 1.63 1.57 4% Brazilian Real (BRL) 6.45 6.38 1% Turkish Lira (TRY) 9.40 12.52 (33)% Canadian Dollar (CAD) 1.55 1.44 7% British Sterling
Slide 46: Glossary
\8\ Glossary
Slide 47: 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 48: ACCOR brand portfolio
ACCOR RAFFLES \ ORIENT EXPRESS \ BANYAN TREE \ SOFITEL LEGEND \ FAIRMONT \ EMBLEMS \ SOFITEL \ RIXOS ONEFINESTAY \ MANTIS \ MGALLERY \ ART SERIES \ PULLMAN \ SWISSOTEL \ ANGSANA \ MOVENPICK GRAND MERCURE \ PEPPERS \ THE SEBEL \ MANTRA \ NOVOTEL \ MERCURE \ ADAGIO \ BREAKFREE \ IBIS IBIS STYLES \ GRE