Accor’s business has rebounded sequentially every quarter since Q2 2021. The outbreak of the Omicron variant caused only a brief hiccup in January, and the recovery seen in February gained further momentum in March. This rebound reflects both the sustained increase in the number of business and leisure domestic guests, and border reopenings which accelerated the return of international travelers. It was accompanied by a sharp increase in prices, which are now above 2019 levels for the last 4 months in a row across the Group, driven by demand and exacerbated by inflation.
