The hospitality business is taking longer to recover in Asia, but the company predicts it will bounce back better than before the pandemic:
rench hotelier Accor predicts that its hospitality business in the Asia-Pacific region will take longer to recover than other parts of the world as China has not reopened its borders. But despite the setback, the company is upbeat about the recovery of the hotel sector in the region and predicts that its profitability will be better than before the pandemic.
The Asia-Pacific region is important to Accor. As of October, the group has 378 hotels, such as Raffles Hotels in Singapore and Sofitel Legend Metropole Hanoi in Vietnam, To accelerate the recovery in Asia, Accor is focusing on domestic tourists to offset the lack of international tourists and maximizing non-room revenues, such as from restaurants and meeting rooms to accommodate the trend of remote working.Accor CEO Sébastien Bazin
The Covid-19 pandemic has hit the company hard with 2020 revenue per available room down by 62% to 24 euros from the previous year. Subsequently, its revenue was down by 60% to 1.6 billion euros in the same period. This year, the group revenue started to recover as the third quarter of 2021 saw revenue climb to 589 million euros , up 79% from the same period the previous year.
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