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Accor: H1 2020 loss exceeds E1.5bn

(CercleFinance.com) - The hotel group's sales reached 917 million euros over the six months to 30 June, 2020, down 48.
8% like-for-like and down 52.4% as reported, versus H1 2019.

RevPAR was down 59.3% in the period, with the group saying that this sharp drop reflects the collapse in the environment due to the global Covid-19 pandemic and the lockdown and border closure measures taken by many governments around the world.

Its H1 2020 net loss, group share amounted to -1,512 million euros (compared with a profit of 141 million euros in H1 2019).

Accor traditionally pfovides an EBITDA target for the full year 2020 when presenting its H1 results. However, the current environment, related to the Covid-19 crisis, does not provide it with sufficient visibility to give a reasonable target range for this aggregate, management said.


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