Accor: raises outlook for 2023
(CercleFinance.com) - Accor has reported Q3 sales of E1,286m, up 12% as reported and 13% LFL.
By division, growth included a 13% rise for the Premium, Midscale and Economy division and a 17% rise for the Luxury & Lifestyle division.
Hotel demand remained buoyant throughout Q3, with RevPAR (revenue per available room) up 15%.
In Q3 2023, Accor opened 73 hotels (representing around 9,200 rooms), representing net network growth of 3% over the past 12 months.
At end-September 2023, Accor had a portfolio of 812,425 rooms (5,537 hotels) and a pipeline of around 219,000 rooms (1,273 hotels).
Against this backdrop, Accor is raising its guidance for 2023, now targeting RevPAR growth of just over 20% (previously at the upper end of the range of between 15% and 20%), with group EBITDA now expected between E955m and E985m (compared with E930m and E970m previously).
Copyright (c) 2023 CercleFinance.com. All rights reserved.
By division, growth included a 13% rise for the Premium, Midscale and Economy division and a 17% rise for the Luxury & Lifestyle division.
Hotel demand remained buoyant throughout Q3, with RevPAR (revenue per available room) up 15%.
In Q3 2023, Accor opened 73 hotels (representing around 9,200 rooms), representing net network growth of 3% over the past 12 months.
At end-September 2023, Accor had a portfolio of 812,425 rooms (5,537 hotels) and a pipeline of around 219,000 rooms (1,273 hotels).
Against this backdrop, Accor is raising its guidance for 2023, now targeting RevPAR growth of just over 20% (previously at the upper end of the range of between 15% and 20%), with group EBITDA now expected between E955m and E985m (compared with E930m and E970m previously).
Copyright (c) 2023 CercleFinance.com. All rights reserved.