ACCOR REJOINS THE CAC 40, THE PARIS STOCK EXCHANGE'S BENCHMARK INDEX (France)
Accor, a global hospitality leader, is set to rejoin the CAC 40, the benchmark index of the Paris stock exchange. |
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ACCOR REJOINS THE CAC 40, THE PARIS STOCK EXCHANGE'S BENCHMARK INDEX (France)
Accor, a global hospitality leader, is set to rejoin the CAC 40, the benchmark index of the Paris stock exchange. |
Category: Europe - France - Events -
Communication/Marketing
This is a press release selected by our editorial committee and published online for free on 2024-03-11
The decision, effective from March 15, 2024, was made by Euronext Paris's Expert Indices Committee following the quarterly review of the CAC 40 index.
This milestone marks another significant achievement for Accor, which is already a member of the CAC 40 ESG index, recognizing companies for their exemplary environmental, social, and governance practices.
During the unprecedented challenges posed by the COVID-19 pandemic, Accor temporarily exited the CAC 40 index in 2020, having been a member of the index since its inception in 1987.
However, the Group has since returned to historic highs, demonstrating adaptability and perseverance.
In 2023, a relentless focus on seamless execution, profitable growth and operational discipline saw the Group posting record results with EBITDA surpassing €1 billion for the first time in its history.
Accor aims to continue capitalizing on its leadership positions in the most buoyant hospitality markets and segments as well as the talent of its teams, the quality of its portfolio of brands, and the efficiency of its asset-light model.
Accor counts today more than 5,500 properties and 10,000 food and beverage venues across 110 countries.
Sébastien Bazin, Group Chairman and CEO Accor, said: "We are proud of Accor's re-inclusion in the CAC 40, marking an important milestone in our journey and a testament to the hard work and commitment of our team. It reflects the Group sustained growth and market leadership in the dynamic landscape of the global hospitality sector. I also want to share this good news with Paul Dubrule, co-founder of the Group and a thought for Gérard Pélisson, his dear business partner. After a record year in 2023, the Group has had a solid start to 2024, driven by higher occupancy and demand, and we look forward to the coming years with optimism."
Key facts and figures
FY23 financials
• Revenue of €5.06 billion
• EBITDA of €1.00 billion
• Recurring free cash flow of €596 million
Our network
• No.1 worldwide excluding the United States and China
• No.1 worldwide in Lifestyle, and No.2 worldwide in Luxury
• A network of 5,500 hotels+ (821,000 rooms+)
• A pipeline of 1,300 hotels+ (225,000 rooms+)
• An ecosystem of 10,000+ restaurants & bars, 18,500+ meeting rooms and 1000+ spas
Our people
• 330,000+ employees across 300+ jobs
• 46% of employees under 35
• 42% of employees are women
Our ESG commitments
• Carbon: Net-zero SBTi by 2050.
• Single-use plastic: Target 80% of hotels to eliminate from their guest experience and we are at 79%
• Food waste: Target 80% of the top 300 hotels on measurement of the baseline and we are at 90%
• Diversity & Inclusion: Target 40% of women in management committees and we are at 42%
Key milestones
1960-1980
• Paul Dubrule and Gérard Pélisson invent economy and midscale hotels with the creation of France’s leading brands in this market: Novotel and Ibis. The Accor Group is born.
• Acquisition of Mercure.
• Accor adopts its first Gender Equality at Work Charter.
1980-2000
• Acquisition of Sofitel
• Accor enters CAC 40
• Accor becomes the first CAC 40 company to create an Environment Department.
2000-2020
• Creation of the MGallery brand
• Acquisition of Fairmont, Raffles and Swissôtel, and partnership with Banyan Tree.
• Accor sets up the Accor Solidarity endowment fund.
• Launch of ALL – Accor Live Limitless, the new loyalty program and booking platform previously named Le Club AccorHotels
• Key partnerships with entertainment and sport leaders such as PSG, IMG and AEG
2020 - now
• Acquisition of SBE, creation of a new Ennismore entity with key selected lifestyle brands
• Launch of Wojo’s coworking spaces.
• Accor continues to simplify its business model to create greater value by announcing the evolution of its organization around two distinct business lines.
• Launch of a new strategic sustainability framework for 2030.
• Accor awarded ‘A’ rating by CDP for its environmental leadership and actions on climate change.
About Accor
Accor is a world leading hospitality group offering experiences across more than 110 countries in +5 500 properties, 10 000 food & beverage venues, wellness facilities or flexible workspaces. The Group has one of the industry’s most diverse hospitality ecosystems, encompassing more than 45 hotel brands from luxury to economy, as well as Lifestyle with Ennismore. Accor is committed to taking positive action in terms of business ethics & integrity, responsible tourism, sustainable development, community outreach, and diversity & inclusion. Founded in 1967, Accor SA is headquartered in France and publicly listed on Euronext Paris (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States.
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