Accor SA

Latest Results (18.12.2024):

Revenue Growth

In the third quarter of 2024, Accor SA reported a revenue of €1,434 million, marking a 12% increase compared to the same period in 2023. This growth was driven by a 7% increase in the Premium, Midscale, and Economy division and an 18% increase in the Luxury & Lifestyle division. The acquisition of Potel & Chabot contributed €56 million to this growth, although currency effects had a negative impact of €30 million.

RevPAR Performance

Accor SA's RevPAR (Revenue Per Available Room) saw a notable increase in the third quarter of 2024. The Premium, Midscale, and Economy division experienced a 5% rise in RevPAR, while the Luxury & Lifestyle division saw a 7% increase. The growth in the Luxury & Lifestyle division was primarily driven by higher occupancy rates, with the Lifestyle segment reporting a 14% increase in RevPAR.

Pipeline and Hotel Openings

During the third quarter of 2024, Accor SA opened 47 hotels, adding 8,000 rooms to its portfolio, which represents a net unit growth of 3.2% over the last 12 months. By the end of September 2024, the company had a hotel portfolio of 838,826 rooms across 5,638 hotels, with a pipeline of 231,000 rooms in 1,380 hotels.

Management & Franchise Revenue

Accor SA's Management & Franchise business recorded a revenue of €358 million in the third quarter of 2024, reflecting a 7% increase compared to the same period in 2023. This growth was supported by RevPAR improvements across various geographical areas, with notable contributions from the Lifestyle segment due to strong network growth.

Outlook for FY 2024

For the full year 2024, Accor SA has confirmed its guidance for RevPAR growth between 4% and 5% and net unit growth between 3% and 4%. The company has also upgraded its EBITDA expectations, now anticipating a range between €1,100 million and €1,125 million, slightly higher than the previous guidance.