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Monday | April 19 | 2021

Covid-19 pandemic caused losses of 1.98 billion euros to the Accor hotel group

The French hotel group Accor announced on Wednesday that last year it registered a net loss of almost two billion euros and its activity decreased by 60%, AFP reports.

Accor, the owner of brands such as Ibis, Sofitel, Novotel, Mercure and Pullman, said that its turnover fell to 1.61 billion euros and lost 1.98 billion euros.

Also, disposable room revenue (RevPAR), a benchmark in the hotel industry, fell by 62% last year, and even by 88.2% in the second quarter, due to the Covid-19 pandemic.

Despite the crisis, Accor opened 205 hotels in 2020 and has a portfolio of 5,139 hotels in 110 countries. 82% of these new hotels were open at the end of December.

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