Latest news with #AccorSA
Bloomberg
03-06-2025
- Business
- Bloomberg
Qatar-Backed Kasada Targets First North Africa Hotel Deal
Kasada Capital Management, a private equity firm backed by Qatar's $524 billion sovereign wealth fund, expects to strike a hotel deal in Morocco in the first half of 2026, marking its entry into North Africa's booming hospitality and tourism industry. The hospitality-focused firm, whose backers include the Qatar Investment Authority and French hotel group Accor SA, has set up an office in Casablanca to assess opportunities and aims to close a fund for investments in Morocco by year-end.
Bloomberg
24-04-2025
- Business
- Bloomberg
Canada Gaining Traction With Tourists as Travelers Shun US, Accor Says
French hotel group Accor SA said Canada's gaining traction as a tourist destination as travelers increasingly avoid the US for holidays. Canada is benefiting from this influx of travelers, Chief Financial Officer Martine Gerow said on a call with reporters, adding that Canadians are also scaling back travel to the US.
Bloomberg
01-04-2025
- Business
- Bloomberg
European Tourists Start Avoiding the US as ‘Unknown Territory'
French hotel group Accor SA has warned that forward bookings from Europe to the US are down 25% this summer as travelers that feel put off by US President Donald Trump's 's crackdown on immigration divert to other locations. The company is seeing a 'pretty strong deceleration' across the Atlantic, Chief Executive Officer Sébastien Bazin said on Tuesday in a Bloomberg TV interview. The drop is an acceleration from an 18-20% decline in the first 90 days of the year, he said. Travelers are deciding to visit places such as Canada, South America of Egypt instead of the US, Bazin said.
Yahoo
21-02-2025
- Business
- Yahoo
Accor SA (ACCYY) (Q4 2024) Earnings Call Highlights: Strong Revenue Growth and Strategic Focus
Revenue: EUR5.606 billion, up 11% year-over-year. Recurring EBITDA: EUR1.120 billion, up 12% year-over-year. RevPAR (Revenue per Available Room): Up 5.7% for the full year, with a 5.8% increase in Q4. Net Unit Growth: 3.5%, in line with 3% to 4% guidance. Pipeline Growth: Up 3.8% year-over-year. Recurring Free Cash Flow: EUR614 million, with a 55% cash conversion of EBITDA. Shareholder Return: EUR686 million, equating to a 7.5% yield. Net Profit: EUR610 million for 2024. Earnings Per Share (EPS): EUR2.33, up 5% year-over-year. Net Debt: Approximately EUR2.5 billion at the end of 2024. Luxury and Lifestyle RevPAR Growth: 10% in Q4. Americas RevPAR Growth: 12% in Q4, primarily driven by Brazil. Middle East, Africa, Turkey RevPAR Growth: High single-digit growth in Q4. Dividend Proposal: EUR1.26 per share, 7% higher than 2023. Warning! GuruFocus has detected 6 Warning Signs with EADSF. Release Date: February 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Accor SA (ACCYY) reported a strong financial performance in 2024, with revenue reaching EUR 5.606 billion, up 11% from the previous year. Recurring EBITDA was close to the high end of guidance at EUR 1.120 billion, marking a 12% year-over-year increase. The company achieved a net unit growth of 3.5%, aligning with its guidance of 3% to 4%, and pipeline growth was slightly higher at 3.8%. Accor SA (ACCYY) returned EUR 686 million to shareholders in 2024, equating to a 7.5% yield based on the January 1 market cap. The company is optimistic about international travel recovery, expecting a 3% to 5% growth in 2025, with strong performance in the Middle East and improving conditions in Asia Pacific and China. Geopolitical fragmentation and economic contrasts pose challenges, with varying levels of happiness and economic conditions across regions. Eco-consciousness and climate control are not progressing in the right direction, necessitating more sensitivity to overtourism and climate policies. Occupancy rates are still about 2 points behind 2019 levels, indicating a need for further recovery in some regions. The company faces challenges in accurately assessing the purpose of trips, as business and leisure travel are increasingly combined. Accor SA (ACCYY) anticipates a drop in net unit growth for PME in 2025 due to the exit of some AccorInvest portfolio hotels. Q: Can you provide more details on the AccorInvest disposal process and any interest shown so far? A: Jean-Jacques Morin, Group Deputy CEO, explained that the disposal of AccorInvest is timely due to its strong performance and market recognition. There is significant interest in the unique portfolio, and while the negotiation will be complex, it is expected to attract considerable attention. Q: What are your expectations for 2025 in terms of RevPAR and net unit growth? A: Martine Gerow, CFO, stated that while 2025 won't have an event as large as the Olympics, there is a good pipeline of events. The company expects good momentum in 2025, although not at the same level as 2024. Net unit growth is expected to be higher in 2025 than in 2024. Q: How do you plan to handle the potential impact of climate change on your hotels? A: Sebastien Bazin, CEO, acknowledged the importance of assessing climate change risks. While there isn't a precise list of hotels that could be impacted, the company is aware of geographies with water shortages and fire hazards and has decided to slow down development in those areas. Q: Can you elaborate on the luxury and lifestyle segment's performance and future strategy? A: Martine Gerow, CFO, noted that the luxury and lifestyle segment saw a 12% growth in EBITDA, driven by strong M&F revenue growth. The company is focused on cleaning the existing portfolio and reviving brand standards, with a faster growth expected in the latter part of the 2023-2027 plan. Q: What are the key priorities for Accor over the next three years? A: Sebastien Bazin, CEO, outlined five priorities: operational excellence, faster growth in selected geographies, completing the AccorInvest sale, expanding Ennismore, and grooming talent within the company. These initiatives aim to strengthen Accor's position and ensure sustainable growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
