The first half of 2022, and especially the second quarter, was amazing for the French hotel group Accor, which owns brands such as Ibis, Sofitel, Mercure, Novotel or Formula 1. There is only one country that is not doing well and that is China. (Accor lands in the Balearic Islands with a popular resort)
In the first half of the year, the group’s turnover amounted to 1,725 million euros, an increase of 97 percent over last year. It barely had a RevPAR (a measure of revenue determination) just 10 percent lower than in 2019. (Accor for its hotel owners: “Raise the prices”)
It’s interesting to see how business is going by region, which is an indication of how tourism works in the world.
In France, where the group has an overwhelming presence, RevPAR was 3 per cent higher than in 2019. In Spain, 2 per cent was also very positive. In contrast, things in Northern Europe are still 7 percent lower. In Great Britain, the rate of return on available room was as high as in France, and London was above it.
Germany did not perform well, with a slower recovery speed.
The Far East is still 18 percent lower than in 2019. In fact, these results are a combination of a 38 percent decline in China and a non-sharp decline in the rest of the countries.
Southeast Asia, which thrives on Chinese tourism, is down 31 percent.
In India, Middle East, Africa and Turkey, RevPAR was up 32% compared to 2019. The UAE was the star, particularly at Expo 2020.
The Americas rates are up 5 percent compared to 2019. North America, Central America, and the Caribbean are on an equal footing, while South America, especially Brazil, is skyrocketing.
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