[Seen in the press] Accor returns to pre-pandemic levels of performance

1 min reading time

Published on 02/08/22 - Updated on 02/08/22

Jean-Jacques Morin CNBC

Jean-Jacques Morin, Accor's Deputy CEO and CFO, unveils the group's second quarter 2022 results and highlights the return to normalcy that the hospitality sector is currently experiencing in an interview on CNBC.

Jean-Jacques Morin is quite pleased with the financial results of the Accor group achieved in the second quarter of 2022. These figures are equivalent to the volume of business recorded in 2019, the last year before the health crisis, but also a record year for the tourism sector.

If the figures are so good today, it is thanks to the desire of the whole world to travel again after two years of restrictions. The number of tourists would double over the same period between 2021 and 2022. Business tourism also seems to be picking up with the return of major international events such as the automobile show, he points out.

The activity is thus driven by domestic and international tourists but also by business tourists. The recovery of the MICE sector is a strong signal according to Jean-Jacques Morin, who explains that the hospitality industry is now "no longer in a recovery phase".

While the occupancy rate of the group's properties is 13% lower overall than in 2019, the price is 13% higher than in 2019. "We have never seen prices this high in our industry," he says.

He briefly discusses the recruitment problems in the sector and admits that this lack of staff prevents hotels from offering certain services. A shortage of staff also prevents hotel operators from fully filling their properties. However, this should not last in view of the recruitment actions launched by Accor recently.

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