Accor announced a 7.7% year-over-year rise in revenue for the third quarter, with its Luxury & Lifestyle division contributing significantly to the company’s overall performance.
Third Quarter Financial Results
For the quarter ending September 30, Accor reported revenue of €1.29 billion, reflecting a 7.7% increase compared to the same period last year. The company attributed this growth to robust demand in its higher-end hotel categories, particularly within the Luxury & Lifestyle segment.
Segment Performance
The Luxury & Lifestyle division posted a 15% increase in revenue, outpacing other segments. Accor noted that this segment benefited from strong occupancy rates and higher average daily rates across key markets. The Premium, Midscale & Economy division also saw gains, with revenue rising by 4% year-over-year.
Regional Trends
Accor highlighted that Europe, the Middle East, and Asia-Pacific regions experienced solid growth, while the Americas showed more moderate improvement. The company reported that business travel and leisure demand both contributed to the positive results.
Development Activity
During the third quarter, Accor opened 73 hotels, adding 9,200 rooms to its portfolio. The company stated that its pipeline remains strong, with a focus on expanding its presence in the Luxury & Lifestyle sector.
Outlook
Accor reaffirmed its full-year guidance, citing continued momentum in its core markets and ongoing investment in its high-end brands. The company indicated that it expects sustained demand for both business and leisure travel in the coming quarters.
