Hospitality company Accor SA (ACRFY.PK) Thursday reported profit excluding profit from discontinued operations of 623 million euros for the full year, significantly higher than 359 million euros in the previous year, mainly driven by higher demand.
"Accor generated record-high results in 2023, with EBITDA breaking the €1 billion mark for the first time in its history," commented Sébastien Bazin, Chairman and Chief Executive Officer of Accor.
Net profit group share increased to 633 million euros or 2.22 euros per share from 402 million euros or 1.39 euros per share last year.
Earnings before interest, taxes, depreciation, and amortization or EBITDA was up 49 percent at 1.003 billion euros. Revenue for the year rose 20 percent to 5.056 billion euros from 4.224 billion euros last year.
Revenue per available room (RevPAR) increased 22.7 percent on a Like-For-Like basis.
The company's Board has recommended a dividend of 1.18 euros per share.
Additionally, the group has confirmed its medium-term growth targets of annualized RevPAR growth of between 3 percent and 4 percent, and EBITDA growth of between 9 percent and 12 percent.
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