Accor Sa · EURONEXT:AC
Accor Sa — AccorHotels — Q3 2016 Earnings Presentation
29 slides from Accor Sa's earnings presentation, Oct 18, 2016
Slide 1: Q3 2016 Revenue
Q3 2016 REVENUE October 18th, 2016
Slide 2: Solid Q3 revenue performance at +1.8% L/L
Solid Q3 revenue performance at +1.8% L/L Q3 2015 Q3 2016 Change In €m In €m Reported L/L HotelInvest 1,295 1,247 (3.7)% (0.1)% HotelServices 356 442 +24.2% +6.7% Holding & Interco (157) (151) +3.7% +3.1% AccorHotels 1,493 1,538 +3.0% +1.8% • HotelInvest: Stable L/L revenue despite a tough environme
Slide 3: Consolidating network scale leadership by fast expansion and FRHI integration
Consolidating network scale leadership by fast expansion and FRHI integration HotelInvest Luxury & Economy France NCEE Upscale Midscale 3% 11% 6% ASPAC 27% 10% Including 8% FRHI 11% 8% 18% 18% 18% 82% 49% MMEA 14% 41% 53% 7% Not including FRHI Managed & 89% 85% 41% Americas franchised • 51,391 rooms
Slide 4: Strong complementary portfolio
Strong complementary portfolio % in rooms – Figures at September 30, 2016 26 % 23 % 4,098 France Northern, Hotels: 1,626 Central, HOTELS Rooms: 147k Eastern Europe Excl. France 575k Pipeline: 4k rooms Hotels: 947 ROOMS Rooms: 133k 2% Pipeline: 17k rooms 95 10% COUNTRIES 26 % Asia-Pacific 13 % 12 % H
Slide 5: Reported revenue up 3% shaped by sound trading and perimeter effect
Reported revenue up 3% shaped by sound trading and perimeter effect Like-for-Like +1.8% +€27m HotelServices: +6.7% comp (1); HotelInvest: (0.1)% L/L 51,391 new rooms (167 hotels) added to the network Expansion +11.5% +€171m over the quarter • Of which FRHI: €145m in revenue Disposals Impact of the A
Slide 6: HotelInvest – resilience despite strong exposure to France
HotelInvest – resilience despite strong exposure to France BY REGION Q3 2015 Q3 2016 L/L change BY SEGMENT In €m In €m Luxury France 411 341 (6.9)% & Upscale Economy NCEE 610 549 +1.1% 21% MMEA 126 120 +2.8% 38% Asia Pacific 70 112 +1.7% 41% Americas 78 125 +19.6% Midscale HOTELINVEST 1,295 1,247 (0
Slide 7: HotelServices – lifted by strong expansion and better balanced portfolio
HotelServices –lifted by strong expansion and better balanced portfolio BY REGION Q3 2015 Q3 2016 Comp. BY SEGMENT In €m In €m Change (1) France 94 96 +0.3% Luxury & Upscale NCEE 94 99 +6.6% Economy 28% MMEA 35 48 +7.1% 38% Asia Pacific 90 110 +9.4% Americas 25 34% 68 +21.7% Worldwide structure(2) 1
Slide 8: France RevPAR
France RevPAR (Owned & Leased, Franchised & Managed hotels) Occupancy Average Room Rate RevPAR % D (L/L, pts) € D (L/L, %) € D (L/L, %) Luxury & Upscale 71.9 (8.7) 214.5 +2.8 154.3 (8.2) Midscale 68.4 (6.8) 105.1 +1.2 71.9 (8.1) Economy 71.0 (1.7) 58.1 (1.1) 41.2 (3.4) TOTAL 70.2 (3.6) 80.3 (1.0) 56
Slide 9: Germany RevPAR
Germany RevPAR (Owned & Leased, Franchised & Managed hotels) Occupancy Average Room Rate RevPAR % D (L/L, pts) € D (L/L, %) € D (L/L, %) Luxury & Upscale 74.5 (6.4) 147.7 +5.0 110.0 (4.2) Midscale 73.7 (1.6) 89.5 +7.5 66.0 +5.3 Economy 78.2 (1.0) 65.2 +6.2 51.0 +4.9 TOTAL 76.0 (1.6) 82.2 +6.1 62.4 +
Slide 10: UK RevPAR
UK RevPAR (Owned & Leased, Franchised & Managed hotels) Occupancy Average Room Rate RevPAR % D (L/L, pts) € D (L/L, %) € D (L/L, %) Luxury & Upscale 84.6 +1.9 205.0 +1.6 173.4 +3.8 Midscale 83.3 +1.8 94.8 +0.6 78.9 +2.8 Economy 87.6 +0.2 73.1 (0.7) 64.1 (0.5) TOTAL 85.3 +1.1 94.1 +0.3 80.3 +1.6 • Ov
Slide 11: Conclusion
Conclusion • Sound continued momentum across all regions but France over Q3 • France & Belgium still deeply penalized by security concerns • Integration of FRHI as of July generating €145m incremental revenue • Strong room growth in Q3 pointing to record organic development in FY2016 • Ongoing trend
Slide 12: Appendices
Appendices |
Slide 13: September-end 2016 Revenue: €4,136m, up 1.9% L/L
September-end 2016 Revenue: €4,136m, up 1.9% L/L Like-for-Like +1.9% +€81m HotelServices: +6.2% comp (1); HotelInvest: +0.3% L/L Expansion +5.2% +€218m 70,922 new rooms (278 hotels) added YTD • 9,652 rooms in Franchise (14% of openings) • 53,872 rooms in Management (76% of openings) Disposals Impact
Slide 14: Q3 2016 Revenue - Breakdown by region
Q3 2016 Revenue - Breakdown by region HOTELSERVICES HOTELINVEST ACCORHOTELS Q3 2016 L/L change Q3 2016 L/L change Q3 2015 Q3 2016* L/L change France 96 +0.3% 341 (6.9)% 451 390 (4.7)% NCEE 99 +6.6% 549 +1.1% 631 581 +2.4% MMEA 48 +7.1% 120 +2.8% 147 153 +4.1% Asia Pacific 110 +9.4% 112 +1.7% 153 212
Slide 15: HotelInvest – Breakdown by segment
HotelInvest – Breakdown by segment L/L REVENUE CHANGE BY SEGMENT Luxury & Midscale Economy TOTAL Upscale France (3,8)% (8,8)% (5,7)% (6,9)% NCEE (0,5)% +1,9% +0,9% +1,1% MMEA +7,3% +3,2% (0,8)% +2,8% Asia Pacific +1.7% +4.4% (1.3)% +1.7% Americas +78,7% +13,3% (1,6)% +19,6% TOTAL +7.2% (0.9)% (1.5)%
Slide 16: Appendices: RevPAR
APPENDICES RevPAR ACCORHOTELS | Q3 2016 Revenue 10/18/2016 | 16
Slide 17: Q3 2016 RevPAR (1/2)
Q3 2016 RevPAR (1/2) HOTELINVEST MANAGED & FRANCHISED TOTAL (OWNED & LEASED) OR ARR RevPAR OR ARR RevPAR OR ARR RevPAR chg chg chg chg % chg % chg % chg % chg % chg % % pts € € % pts € € % pts € € L/L L/L L/L L/L L/L L/L L/L L/L L/L Lux. & Upscale 70.3 -9.0 239 +1.2 168 -9.9 74.4 -8.4 180 +4.7 134 -
Slide 18: Q3 2016 RevPAR (2/2)
Q3 2016 RevPAR (2/2) HOTELINVEST MANAGED & FRANCHISED TOTAL (OWNED & LEASED) OR ARR RevPAR OR ARR RevPAR OR ARR RevPAR chg chg chg chg % chg % chg % chg % chg % chg % % pts € € % pts € € % pts € € L/L L/L L/L L/L L/L L/L L/L L/L L/L Lux. & Upscale 67.1 +4.7 102 -0.1 68 +6.9 87.4 +13.6 185 +1.0 162 +
Slide 19: September-end 2016 RevPAR (1/2)
September-end 2016 RevPAR (1/2) HOTELINVEST MANAGED & FRANCHISED TOTAL (OWNED & LEASED) OR ARR RevPAR OR ARR RevPAR OR ARR RevPAR chg chg chg chg % chg % chg % chg % chg % chg % % pts € € % pts € € % pts € € L/L L/L L/L L/L L/L L/L L/L L/L L/L Lux. & Upscale 63.5 -5.4 219 -0.6 139 -8.2 67.4 -6.5 172
Slide 20: September-end 2016 RevPAR (2/2)
September-end 2016 RevPAR (2/2) HOTELINVEST MANAGED & FRANCHISED TOTAL (OWNED & LEASED) OR ARR RevPAR OR ARR RevPAR OR ARR RevPAR chg chg chg chg % chg % chg % chg % chg % chg % % pts € € % pts € € % pts € € L/L L/L L/L L/L L/L L/L L/L L/L L/L Lux. & Upscale 64.5 +3.7 101 +0.0 65 +5.7 85.7 +8.5 184
Slide 21: Appendices: Portfolio
APPENDICES Portfolio ACCORHOTELS | Q3 2016 Revenue 10/18/2016 | 21
Slide 22: Portfolio at September 30th, 2016 (1/2)
Portfolio at September 30th, 2016 (1/2) HOTELINVEST MANAGED FRANCHISED TOTAL (OWNED & LEASED) # hotels # rooms # hotels # rooms # hotels # rooms # hotels # rooms Luxury & Upscale 12 2,847 23 1,809 16 3,113 51 7,769 Midscale 46 5,638 247 22,524 105 16,066 398 44,228 Economy 50 5,312 804 56,850 318 32
Slide 23: Portfolio at September 30th, 2016 (2/2)
Portfolio at September 30th, 2016 (2/2) HOTELINVEST MANAGED FRANCHISED TOTAL (OWNED & LEASED) # hotels # rooms # hotels # rooms # hotels # rooms # hotels # rooms Luxury & Upscale 188 48,041 48 6,150 4 2,683 240 56,874 Midscale 176 41,185 51 6,846 10 2,425 237 50,456 Economy 123 23,510 99 14,121 32 3
Slide 24: Appendices: Exchange rates
APPENDICES Exchanges rates ACCORHOTELS | Q3 2016 Revenue 10/18/2016 | 24
Slide 25: Q3 2016 Exchange Rates
Q3 2016 Exchange Rates Q3 2015 Q3 2016 2016 vs. 2015 1€ = X foreign currency average rate average rate Change Brazilian real (BRL) 3.94 3.62 +8.0% Australian dollar (AUD) 1.53 1.47 +4.0% Sterling (GBP) 0.72 0.85 -18.3% Argentine Peso (ARS) 10.30 16.67 -61.8% Swiss Franc (CHF) 1.07 1.09 -1.5% America
Slide 26: September-end 2016 Exchange Rates
September-end 2016 Exchange Rates September-end 2015 September-end 2016 2016 vs. 2015 1€ = X foreign currency average rate average rate Change Brazilian real (BRL) 3.52 3.97 -12.7% Australian dollar (AUD) 1.46 1.51 -3.0% Sterling (GBP) 0.73 0.80 -10.3% Argentine Peso (ARS) 10.00 16.22 -62.1% Swiss F
Slide 27: Appendices: Glossary
APPENDICES Glossary ACCORHOTELS | Q3 2016 Revenue 10/18/2016 | 27
Slide 28: Glossary
Glossary REGION ORGANIZATION • France • NCEE: Northern, Central and Eastern Europe (does not include France nor Southern Europe) • MMEA: Mediterranean, Middle-East and Africa (includes Southern Europe) • AsPac: Asia Pacific Region • Americas: Northern, Central and South America NO-BRANDED HOTELS IN
Slide 29: Q3 2016 Revenue
Q3 2016 REVENUE October 18th, 2016