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Hotel company Accor has revealed that group revenue for the third quarter rose 79% to €589m (£496m), up from €329m (£277m) the previous year.
The growth was predominantly boosted by “strong demand” in the French and
British provinces, the UAE as well as the US during the summer period.
In addition, Accor improved its EBITDA sensitivity per point of RevPAR target to below €17m (£14m), and its monthly cash burn target to less than €35m (£29m) from a previous target of €40m (£33m).
However, in the UK, RevPAR was down 28%, and was driven by drops in footfall for regional cities, with London being more affected, dropping 51%.
Sébastien Bazin, chairman and CEO of Accor, said: “This third quarter of 2021 saw a genuine pick-up in demand. Our business was very strong this summer in Europe, the Middle East and the Americas, particularly for our leisure destinations. These trends are expected to persist out to the end of the year. People are very keen to travel again.
“With this rebound, our vision of augmented hospitality to serve our guests beyond their hotel rooms, has been confirmed with the acceleration of lifestyle & entertainment activities and takes on its full meaning.”
He added: “Our teams are fully mobilised to support this recovery by rolling out new services, such as the launch of the ALL payment card in France and via global communication campaigns.”
