Due to worldwide travel restrictions to prevent the spread of the new coronavirus, the vast majority of all hotel rooms remained empty.
Accor CEO Sébastien Bazin speaks of an unparalleled shock to the hotel sector. Although he thinks the bottom of the crisis is over, he thinks the road to full recovery is still long.
In the first half of the year, the turnover of Accor, which has more than fifty hotels in the Netherlands, halved to 917 million euros. The occupancy of all hotel rooms worldwide was less than 15 percent. People who still booked an overnight stay also did so for lower prices.
In addition to a negative operating result of EUR 227 million, there were also one-off charges of EUR 1 billion. These were mainly the result of depreciation, as hotels are expected to generate the same income as before the corona pandemic outbreak only in 2023.
Accor has 5,099 hotels worldwide, with a total of 747,805 rooms. Despite the crisis, the group opened 86 new hotels in the first six months of this year.
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