Latest news with #Jean-JacquesMorin
Sydney Morning Herald
26-06-2025
- Business
- Sydney Morning Herald
Up-market hotels take luxury living to a high-rise level
Capital Gain Australia's largest hotel operator, Accor, will brand a Burleigh Heads apartment building that has sweeping views of Surfers Paradise under its luxury Mondrian marque. Buying a home connected to a favourite or upmarket hotel brand is becoming more common. Owners in the apartment building will be able to call on the hotel's room service or concierge, and use its full suite of amenities. Taking advantage of the trend, Accor has launched its high-end Mondrian Residence apartments on the Gold Coast offering owners in the building access to the adjoining international five-star Mondrian Gold Coast hotel. Speaking on the Gold Coast before an Accor leaders summit, executives Jean-Jacques Morin, Duncan O'Rourke and Adrian Williams, overseeing the Pacific region, said branded residences are gaining traction and more are being ear-marked across Australia. Loading Williams said developers and buyers recognise the lifestyle and investment benefits of the branded residence concept, which are now benchmarks for the hotel sector. Developers can add a premium to the price of their apartments, knowing buyers will pay more for a home in a tower named after a well-known, up-market brand. The $400 million Gold Coast development covers 4037 square metres of prime beachfront land at Burleigh Heads at the southern end of the Gold Coast. The complex consists of two towers, one housing a 208-room hotel which opened in early June, and the other a complex of 89 luxury residential apartments which are all sold. It was developed by the Brisbane-based Vitale Projects.
The Age
26-06-2025
- Business
- The Age
Up-market hotels take luxury living to a high-rise level
Capital Gain Australia's largest hotel operator, Accor, will brand a Burleigh Heads apartment building that has sweeping views of Surfers Paradise under its luxury Mondrian marque. Buying a home connected to a favourite or upmarket hotel brand is becoming more common. Owners in the apartment building will be able to call on the hotel's room service or concierge, and use its full suite of amenities. Taking advantage of the trend, Accor has launched its high-end Mondrian Residence apartments on the Gold Coast offering owners in the building access to the adjoining international five-star Mondrian Gold Coast hotel. Speaking on the Gold Coast before an Accor leaders summit, executives Jean-Jacques Morin, Duncan O'Rourke and Adrian Williams, overseeing the Pacific region, said branded residences are gaining traction and more are being ear-marked across Australia. Loading Williams said developers and buyers recognise the lifestyle and investment benefits of the branded residence concept, which are now benchmarks for the hotel sector. Developers can add a premium to the price of their apartments, knowing buyers will pay more for a home in a tower named after a well-known, up-market brand. The $400 million Gold Coast development covers 4037 square metres of prime beachfront land at Burleigh Heads at the southern end of the Gold Coast. The complex consists of two towers, one housing a 208-room hotel which opened in early June, and the other a complex of 89 luxury residential apartments which are all sold. It was developed by the Brisbane-based Vitale Projects.
Yahoo
21-02-2025
- Business
- Yahoo
Accor SA (ACCYY) (Q4 2024) Earnings Call Highlights: Strong Revenue Growth and Strategic Focus
Revenue: EUR5.606 billion, up 11% year-over-year. Recurring EBITDA: EUR1.120 billion, up 12% year-over-year. RevPAR (Revenue per Available Room): Up 5.7% for the full year, with a 5.8% increase in Q4. Net Unit Growth: 3.5%, in line with 3% to 4% guidance. Pipeline Growth: Up 3.8% year-over-year. Recurring Free Cash Flow: EUR614 million, with a 55% cash conversion of EBITDA. Shareholder Return: EUR686 million, equating to a 7.5% yield. Net Profit: EUR610 million for 2024. Earnings Per Share (EPS): EUR2.33, up 5% year-over-year. Net Debt: Approximately EUR2.5 billion at the end of 2024. Luxury and Lifestyle RevPAR Growth: 10% in Q4. Americas RevPAR Growth: 12% in Q4, primarily driven by Brazil. Middle East, Africa, Turkey RevPAR Growth: High single-digit growth in Q4. Dividend Proposal: EUR1.26 per share, 7% higher than 2023. Warning! GuruFocus has detected 6 Warning Signs with EADSF. Release Date: February 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Accor SA (ACCYY) reported a strong financial performance in 2024, with revenue reaching EUR 5.606 billion, up 11% from the previous year. Recurring EBITDA was close to the high end of guidance at EUR 1.120 billion, marking a 12% year-over-year increase. The company achieved a net unit growth of 3.5%, aligning with its guidance of 3% to 4%, and pipeline growth was slightly higher at 3.8%. Accor SA (ACCYY) returned EUR 686 million to shareholders in 2024, equating to a 7.5% yield based on the January 1 market cap. The company is optimistic about international travel recovery, expecting a 3% to 5% growth in 2025, with strong performance in the Middle East and improving conditions in Asia Pacific and China. Geopolitical fragmentation and economic contrasts pose challenges, with varying levels of happiness and economic conditions across regions. Eco-consciousness and climate control are not progressing in the right direction, necessitating more sensitivity to overtourism and climate policies. Occupancy rates are still about 2 points behind 2019 levels, indicating a need for further recovery in some regions. The company faces challenges in accurately assessing the purpose of trips, as business and leisure travel are increasingly combined. Accor SA (ACCYY) anticipates a drop in net unit growth for PME in 2025 due to the exit of some AccorInvest portfolio hotels. Q: Can you provide more details on the AccorInvest disposal process and any interest shown so far? A: Jean-Jacques Morin, Group Deputy CEO, explained that the disposal of AccorInvest is timely due to its strong performance and market recognition. There is significant interest in the unique portfolio, and while the negotiation will be complex, it is expected to attract considerable attention. Q: What are your expectations for 2025 in terms of RevPAR and net unit growth? A: Martine Gerow, CFO, stated that while 2025 won't have an event as large as the Olympics, there is a good pipeline of events. The company expects good momentum in 2025, although not at the same level as 2024. Net unit growth is expected to be higher in 2025 than in 2024. Q: How do you plan to handle the potential impact of climate change on your hotels? A: Sebastien Bazin, CEO, acknowledged the importance of assessing climate change risks. While there isn't a precise list of hotels that could be impacted, the company is aware of geographies with water shortages and fire hazards and has decided to slow down development in those areas. Q: Can you elaborate on the luxury and lifestyle segment's performance and future strategy? A: Martine Gerow, CFO, noted that the luxury and lifestyle segment saw a 12% growth in EBITDA, driven by strong M&F revenue growth. The company is focused on cleaning the existing portfolio and reviving brand standards, with a faster growth expected in the latter part of the 2023-2027 plan. Q: What are the key priorities for Accor over the next three years? A: Sebastien Bazin, CEO, outlined five priorities: operational excellence, faster growth in selected geographies, completing the AccorInvest sale, expanding Ennismore, and grooming talent within the company. These initiatives aim to strengthen Accor's position and ensure sustainable growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
