Accor closed 2024 with a solid revenue of €5.6 billion, marking an 11% increase from the previous year. This performance was largely fueled by the Luxe & Lifestyle division, which saw an impressive 19% growth, while the Premium, Midscale, and Economy segment grew by 5%.
While overall momentum remained positive, regional variations shaped the results. Europe and the UK experienced more moderate growth, whereas North Africa emerged as a standout performer, driven by a surge in tourism and hotel investments. Countries like Morocco played a key role in this expansion, reinforcing the region’s growing appeal for travelers and investors alike.
In a global tourism recovery phase, North Africa recorded strong results, benefiting from higher occupancy rates and an upscale shift in hospitality offerings. Accor has expanded its footprint in the region with several new openings, particularly in Morocco, where it already operates prestigious brands such as Fairmont, Sofitel, and Mövenpick.
Morocco continues to see strong tourism demand, fueled by major events and substantial investments in the hospitality sector. With a strategy focused on high-end accommodations and sustainable development, Accor is capitalizing on this expanding market.
In Egypt and Tunisia, however, currency devaluation impacted revenue in euro terms, but visitor numbers remained strong, driven by tourists from Europe and the Middle East.
With 293 new hotels and 50,000 additional rooms in 2024, Accor continues to expand its network, emphasizing organic growth and the premiumization of its offerings. In North Africa, the group is targeting high-growth segments, particularly Luxury and Lifestyle, which were its best-performing categories of the year.
Sustainability and responsible tourism have also become key priorities for Accor, especially in markets like Morocco, where authorities are promoting environmentally friendly hotel development.
As Accor moves into 2025 with confidence, North Africa is expected to play a pivotal role in its growth strategy. The region continues to attract investors and travelers, with promising outlooks for the hospitality sector. Morocco, in particular, stands to benefit further from the 2030 FIFA World Cup, an opportunity that major players like Accor are poised to seize.
Despite currency volatility in certain markets, the resilience of North Africa’s hospitality industry and the growing demand for upscale accommodations present exciting prospects for the hotel giant. 2025 is set to be a defining year for Accor in the region, balancing consolidation and new expansion ambitions.
