Accor Reports 12% Revenue Growth in Q3 2024

Accor's Q3 2024 revenue reached €1,434 million, marking a 12% growth compared to Q3 2023. This growth was driven by increases in both its Premium, Midscale & Economy (PM&E) and Luxury & Lifestyle (L&L) divisions, which saw revenues rise by 7% and 18%, respectively.

RevPAR, or Revenue Per Available Room, grew by 5.3% across the company. The PM&E division saw a 5% rise, influenced mainly by pricing rather than occupancy rates. The L&L division increased by 7%, mainly due to a higher occupancy rate.

Geographical diversification contributed to robust performance across various regions. Europe, North Africa, and Asia-Pacific showed positive results, with France benefiting from the Olympic Games. However, challenges persisted in regions like China and the Pacific.

For 2024, Accor expects EBITDA to be between €1,100 million and €1,125 million, revising previous expectations upwards. The company's long-term financial strategy emphasizes asset optimization and debt reduction.