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Accor Posts FY Loss - Quick Facts

French hotel group Accor (ACRFY.PK,ACRFF.PK) reported that its net loss, group share for fiscal year 2020 was 1.99 billion euros, compared to net income of 464 million euros in the previous year, reflecting a negative 578 million euros stemming from the combination of operating losses and asset impairments, linked in particular to AccorInvest, sbe and Huazhu.

Consolidated full-2020 revenue was 1.62 billion euros, down 54.8% like-for-like and down 60.0% as reported compared with full-year 2019. The decrease in annual revenue was changes in the scope of consolidation had a negative impact of 155 million euros, largely due to the disposal of Mövenpick leased hotels. Currency effects had a negative impact of 53 million euros, mainly due to the Australian dollar (-2.7%) and the Brazilian real (-24.7%).

The company decided to propose not to pay a dividend at the next Annual Shareholders' Meeting on April 29, 2021.

RevPAR was down 62.0% in 2020. It marked decline reflects the dramatic deterioration in the industry linked to the spread of the Covid-19 virus worldwide, as well as lockdown measures and border closures implemented by governments throughout the world.

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