RIYADH: The development of its loyalty program and portfolio diversity have helped the French hotel chain Accor report an annual core profit that is marginally higher than market estimates. Compared to €1.12 billion in 2024 and a company-compiled analyst average of €1.19 billion, the group reported €1.20 billion ($1.41 billion) in earnings before interest, taxes, depreciation, and amortisation last year.
In comparison with the fourth quarter of 2024, the Middle East, Africa, and Asia-Pacific area saw a 7.6 percent rise in revenue per available room, a crucial industry statistic, according to a press release. Prices were the only factor driving this growth, and China, which was still having a negative impact on the region’s performance, was responsible for the minor drop in occupancy rates.
All of the key destinations in the region, including Saudi Arabia and the United Arab Emirates, had double-digit RevPAR increase in the Middle East and Africa region, which generates 26% of the region’s room revenue.The overall quality of Accor’s worldwide asset base has improved over the last five years as the pipeline’s value has increased more quickly than the quantity of projects.
Also Read:
