Accor Group's third-quarter revenue per available room, occupancy and average daily rates all increased year over year, Accor CFO Martine Gerow said on Thursday (26 October) during an earnings call.
In Q3, Accor's systemwide RevPAR (revenue per available room) was €77, up 14.7 per cent year over year. RevPAR for Accor's Premium, Midscale & Economy group was €64, up 14.9 per cent, and RevPAR for its Luxury & Lifestyle group was €163, up 14.2 per cent.
In Q3, Accor's systemwide ADR (average daily rate) was €110, up 9.8 per cent year over year. The group's average occupancy in the quarter was 70.1 per cent, up 3 percentage points.
RevPAR gains in the Premium, Economy & Midscale segment were led by the Asia-Pacific region which, in Accor's reporting, includes the Middle East and Africa. Together, these regions reported year-over-year RevPAR up 25 per cent, Gerow said. This was driven by both volume and rate, she added.
Additionally, in Q3, the Middle East was supported by a "solid price increase" and slight occupancy increase, which has recovered to pre-pandemic levels, Gerow added.
In the ENA region, which includes Europe and North Africa, RevPAR increased 9 per cent.
In France, which represents 44 per cent of the region's room revenue, the business benefited from an increase in international leisure tourists to Paris and major events such as the Rugby World Cup.
RevPAR trends in the UK, which represents 13 per cent of regional revenue, were “comparable” with France due to an influx of international visitors which benefited London more than other cities.
In Germany, which also accounts for 13 per cent of revenue, RevPAR saw “more moderate growth” than in France and the UK.
In Asia-Pacific, China reported strong growth in the quarter, with RevPAR up 44 per cent year over year, surpassing 2019 levels, Gerow said.
In the Americas, RevPAR increased 13 per cent year over year, however Gerow noted the hotel company is "starting to see some levelling off” in the region.
As of 30 September, Accor's Premium, Midscale & Economy pipeline included 1,025 hotels and 171,000 guest rooms. Accor's Luxury & Lifestyle pipelines included 248 hotels and 47,000 guest rooms. These pipelines all represent slight increases over the second quarter.
Accor's total portfolio in Q3 included more than 812,000 guest rooms and 5,500 hotels.
In the third quarter, Accor reported €1.28 billion in revenue, up 13 per cent year over year.