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Accor has seen revenues rise by 2.5% to €2.7bn (£2.3bn) in the first half of the year, or by 5.1% on a constant currency basis, as RevPAR rose by 4.6% following “resilient” trading.
Consolidated recurring EBITDA hit €552m (£477m) over the period, marking a 9.4% rise against the prior year, or a rise of 13.4% in constant exchange rates.
The group said that in a “tense” macroeconomic environment marked by geopolitical uncertainty and “significant” currency fluctuations, it “demonstrated the resilience of its business”.
According to the group, the diversification of its hotel portfolio, both in terms of geography and segments, allowed it to “capture continued strong global demand”.
Its Premium, Midscale and Economy (PM&E) division reported a 2.9% increase in RevPAR compared with the second quarter of 2024. Three-quarters of this increase was driven by prices, and one-quarter by occupancy rates.
In the UK, which accounts for 11% of the region’s room revenue, both London and the provinces continued to report a decline in RevPAR however, following weak confidence among economic agents about the country’s situation.
Meanwhile its Luxury and Lifestyle (L&L) division posted a 7.0% increase in RevPAR compared with the second quarter of 2024, again driven by both prices and occupancy rates.
During the first half of 2025, Accor opened 117 hotels, corresponding to more than 15,000 rooms, representing net unit growth of 1.9% over the last 12 months. At the end of June 2025, it had a hotel portfolio of 854,695 rooms (5,740 hotels) and a pipeline of more than 241,000 rooms (1,432 hotels).
Looking ahead, the group expects full-year RevPAR growth of between 3% and 4%, and a recurring EBITDA growth between 9% and 10% at constant currency.
Sébastien Bazin, chairman and CEO of Accor, said: “In the first half of 2025, the group once again posted strong momentum despite a complex geopolitical environment and the impact of exchange rates. This solid performance confirms the quality of our brand portfolio and the relevance of our diversified geographic presence, and is the result of the operational and financial discipline that the group implements quarter after quarter.
“At constant currency for the full year 2025, we are confirming our RevPAR, network and recurring EBITDA growth targets, in line with our June 2023 Capital Market Day medium-term prospects. We will also continue, as promised, our attractive shareholder return policy by launching the second tranche of our share buyback program.”
