Accor continued to see sequential monthly key performance indicator improvement during the second quarter of the year, but the recovery "remains heterogeneous," according to the company's first-half earnings report.
The group reported a net profit of €67 million for the first half, compared with a loss of €1.51 billion during the same period in 2020.
First-half revenue per available room fell by 60.4 per cent compared with the first half of 2019, and 58 per cent comparing the second quarter of 2021 with 2019.
"This decline masks very mixed situations by country," according to Accor. "Certain regions experienced a remarkable improvement from the first quarter of the year, while others continued to be hard-hit by government restrictions linked to the Covid-19 health crisis."
Second-quarter RevPAR improved from the previous quarter in each of Accor's regions except South Europe. The Asia-Pacific region reported the lowest decline when compared with 2019 at 38.5 per cent. Greater China's Q2 RevPAR was down just 18 per cent compared with 2019. US RevPAR declined 62.6 per cent during the quarter compared with 2019, but this represents an improvement of more than 10 percentage points from first-quarter results.
Companywide average occupancy for the first half was 33.5 per cent, down 35.3 percentage points from 2019 levels. Average daily rate was €70, representing a 17.8 per cent decline from the same period two years ago.
During the first half of 2021, Accor opened 121 hotels with about 15,000 rooms for a net system growth of 1.9 per cent year over year. As of June 30, Accor had 762,072 rooms and a pipeline of about 211,000 rooms. As of July 26, 93 per cent of the company's hotels were open.