Accor Group Rejoins CAC 40 Index: A Triumph of Resilience


ACCOR REJOINS CAC 40 INDEX, BOASTING STELLAR FY23 FINANCIALS WITH €5.06 BILLION REVENUE AND €1.00 BILLION EBITDA. THE TRIUMPH MARKS RESILIENCE, MARKET LEADERSHIP, AND COMMITMENT TO EXEMPLARY ESG PRACTICES.
Accor Group, a global hospitality leader, is poised to rejoin the CAC 40, the Paris stock exchange’s benchmark index, effective March 15, 2024. This decision by Euronext Paris’s Expert Indices Committee comes after a quarterly review, marking a significant milestone for Accor.
In 2020, facing the challenges of the COVID-19 pandemic, Accor temporarily exited the CAC 40. However, resilience and adaptability have driven a comeback, with 2023 showcasing record results. Achieving an EBITDA exceeding €1 billion for the first time, Accor has demonstrated remarkable operational discipline and profitable growth.
Accor Group Key Financials
FY23 Financials
- Revenue: €5.06 billion.
- EBITDA: €1.00 billion.
- Recurring free cash flow: €596 million.
Network
- No.1 worldwide excluding the United States and China.
- No.1 worldwide in Lifestyle, and No.2 worldwide in Luxury.
- 5,500+ hotels (821,000+ rooms).
- A pipeline of 1,300+ hotels (225,000+ rooms).
- 10,000+ restaurants & bars, 18,500+ meeting rooms, and 1,000+ spas.
People
- 330,000+ employees across 300+ jobs.
- 46% of employees under 35.
- 42% of employees are women.
ESG Commitments
- Carbon: Net-zero SBTi by 2050.
- Single-use plastic: Target 80% elimination (79% achieved).
- Food waste: Target 80% reduction (90% achieved).
- Diversity & Inclusion: Target 40% women in management committees (42% achieved).
Accor’s Journey Through Milestones: From 1960 to Now
1960-1980: Innovation and Expansion
- Paul Dubrule and Gérard Pélisson pioneer economy and midscale hotels, creating Novotel and Ibis.
- Acquisition of Mercure.
- Adoption of the first Gender Equality at Work Charter.
1980-2000: Growth and Recognition
- Acquisition of Sofitel.
- Entry into the CAC 40.
- Establishment of the first Environment Department in a CAC 40 company.
2000-2020: Global Expansion and Social Responsibility
- Creation of the MGallery brand.
- Acquisition of Fairmont, Raffles, and Swissôtel, and partnership with Banyan Tree.
- Launch of the Accor Solidarity endowment fund.
- Introduction of ALL – Accor Live Limitless loyalty program.
- Partnerships with entertainment and sport leaders like PSG, IMG, and AEG.
2020 – Now: Innovation and Sustainability
- Acquisition of SBE and creation of Ennismore entity with lifestyle brands.
- Launch of Wojo’s coworking spaces.
- Evolution of organization around two business lines.
- Introduction of strategic sustainability framework for 2030.
- Awarded ‘A’ rating by CDP for environmental leadership.
Optimistic Outlook and Recognition
Sebastien Bazin expressed optimism for the coming years, citing a strong start to 2024 with increased occupancy and demand. The re-inclusion in the CAC 40 is a testament to Accor’s sustained growth and resilience in the dynamic global hospitality sector.