Accor has pegged its revenue losses to date in Greater China
at around 5 million euros ($5.4 million), as the hotel company grapples with negative
impact from the Covid-19 coronavirus outbreak.
During Accor’s full-year 2019 earnings call last
week, Accor CEO Sebastien Bazin speculated that those losses could grow,
depending on the length of the virus’ spread.
Greater China makes up about 3% of Accor’s systemwide
“Of course, there is some spillover in between what’s
happening in Greater China and what’s happening elsewhere,” added Bazin. “It
has a very different impact in Korea or Japan or Australia or Bangkok or Kuala
Lumpur or Singapore. There’s a lot of cancellation. There’s a lot of rebooking
and changing of destination.”
Asia-Pacific accounts for around 31% of Accor’s total room
count, as well as approximately 33% of revenue.
Accor saw RevPAR in the Asia-Pacific region decline 1.9% and 0.9% in the fourth
quarter and for the full year, respectively. Companywide, RevPAR was
up 0.6% for the quarter and rose 1.7% for 2019.
For the full year, Accor posted a revenue increase of 16% to
4.05 billion euros ($4.4 billion).
Source: Read Full Article