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Accor has reported a 10.9% increase in group revenue to €1,049m (£904m) in its third-quarter results.
RevPAR increased by 0.7% during the period, with performance varying by region. It said Europe was relatively resilient, with a 1.2% RevPAR increase, whilst Asia-Pacific recorded a slight decline (-1.1%), due to the “environment in China”.
In the UK RevPAR growth remained “modest”, increasing by 0.4%, with “considerable” differences persisting between London and the regional cities.
It said the increase in RevPAR in London (+1.6%) reflected the “still-dynamic” domestic tourism market, while RevPAR in the regional cities (-0.9%) suffered from political and economic uncertainties related to Brexit, which have dampened business travelers demand.
During the third quarter, Accor opened 60 hotels with 8,500 rooms. At end-September 2019, the group’s portfolio totaled 726,345 rooms in 4,946 hotels and the pipeline represented 1,181 hotels corresponding to 205,000 rooms.
Sébastien Bazin, chairman and CEO of Accor, said: “Accor’s third quarter performance was solid, validating the quality of its asset-light model in a mixed international environment.
“The group once again generated solid revenue growth with steady supply growth and a record-setting pipeline.”
He added: “At the same time, Accor continued to execute its strategy, making progress on the sale of its remaining real estate activities, and on
the launch of ALL, the Group’s new distribution platform and loyalty program, in the near future.”
