AccorHotels reveals 7.6% revenue growth in Q3 results

AccorHotels has reported a 7.6% like-for-like revenue growth to €1.033bn (£9.082bn) for its Q3 2018 results.

According to the results, RevPAR increased by 5.9% reflecting positive performances in all regions, particularly in Europe (+7.1%) and Asia-Pacific (+3.1%), which the group said is primarily a result of a “strong price effect” (76%).

During the period, AccorHotels opened 73 hotels, adding nearly 11,000 rooms. At the end of September 2018, the group’s pipeline had risen above the “symbolic 1,000 hotel mark” with 1,031 units in planning, representing “record volumes” of around 184,000 rooms.

Chairman and CEO Sébastien Bazin said: “AccorHotels turned in a solid performance in the third quarter, reflecting positive operating trends in the majority of our markets as well as the group’s strong growth as a result of acquisitions made since the start of the year.

“In addition to these operations, which enable us to cement our international leadership, our organic growth continued at a fast pace and our pipeline rose above the 1,000 hotel mark, underlining the strength of our brand portfolio.”