Accor reported its H1 2025 outcomes.
Highlights embrace:
- RevPAR was up 4.6 % within the first half of 2025
- Income was up 5.1 % within the first half of 2025 at fixed forex
- Through the first half of 2025, Accor opened 117 lodges, akin to greater than 15,000 rooms, representing web unit progress of 1.9 % during the last 12 months
Sébastien Bazin, chairman and CEO of Accor, stated, “Within the first half of 2025, the Group as soon as once more posted robust momentum regardless of a fancy geopolitical surroundings and the impression of trade charges. This stable efficiency confirms the standard of our model portfolio and the relevance of our diversified geographic presence, and is the results of the operational and monetary self-discipline that the Group implements quarter after quarter.
“At fixed forex, for the complete yr 2025, we’re confirming our RevPAR, community, and recurring EBITDA progress targets, in step with our June 2023 Capital Market Day medium-term prospects. We will even proceed, as promised, our enticing shareholder return coverage by launching the second tranche of our share buyback program.”
On the finish of June 2025, Accor had a lodge portfolio of 854,695 rooms (5,740 lodges) and a pipeline of greater than 241,000 rooms (1,432 lodges).
Second quarter 2025 RevPAR
The premium, midscale, and economic system (PM&E) division posted a 2.9 % enhance in RevPAR in contrast with the second quarter of 2024. Three-quarters of this enhance in RevPAR was pushed by costs, and one-quarter by occupancy charges.
- The Europe North Africa (ENA) area posted a 3.3 % enhance in RevPAR in contrast with the second quarter of 2024, pushed by larger occupancy charges. The sequential enchancment of two.7 proportion factors in comparison with the primary quarter was pushed primarily by France.
- In France, which accounts for 43 % of the area’s room income, the rise in RevPAR was strongly constructive within the second quarter. The Paris area benefited notably from a positive comparability as a result of pre-Olympic Video games impression in June 2024 and from robust vacationer visitors. The efficiency within the provinces was extra average, with RevPAR returning to barely constructive progress within the second quarter of 2025.
- Within the UK, which accounts for 11 % of the area’s room income, each London and the provinces continued to report a decline in RevPAR within the second quarter, on account of weak confidence amongst financial brokers in regards to the nation’s scenario.
- In Germany, which accounts for 12 % of the area’s room income, the RevPAR variation was destructive within the second quarter on account of a extremely unfavorable comparability foundation in June 2024 linked to the 2024 European Soccer Championship.
- The Center East, Africa, and Asia-Pacific area posted a 1.2 % enhance in RevPAR in contrast with the second quarter of 2024. This RevPAR progress was pushed solely by costs, which offset a slight decline in occupancy charges.
- Within the Center East-Africa area, which accounts for 27 % of the area’s room income, RevPAR traits have been blended: the United Arab Emirates posted double-digit progress regardless of some cancellations linked to tensions in Iran. Nonetheless, the timing of Ramadan and stricter entry guidelines for the Hajj pilgrimage had a destructive impression on Saudi Arabia.
- Southeast Asia, which accounts for 31 % of the area’s room income, posted resilient RevPAR progress regardless of decrease vacationer arrivals from China on account of safety issues in Thailand and the slowdown within the Indonesian economic system following authorities price range restrictions.
- The Pacific, which accounts for twenty-four % of the area’s room income, posted a robust rebound within the second quarter, notably after the impression of Tropical Storm Alfred, which affected the Queensland area of Australia in March.
- In China, which accounts for 18 % of the area’s room income, the RevPAR variation remained destructive with no vital enchancment within the nation’s economic system.
- The Americas area, which primarily displays the efficiency of Brazil (62 % of the area’s room income), delivered a 1 % enhance in RevPAR in contrast with the second quarter of 2024.
- Brazil continued to report robust worth will increase pushed by sustained demand from company company.
The luxurious and way of life (L&L) division posted a 7.0 % enhance in RevPAR in contrast with the second quarter of 2024, pushed by each costs and occupancy charges.
- Luxurious, which accounts for 72 % of the division’s room income, posted a 3 % enhance in RevPAR in contrast with the second quarter of 2024. RevPAR progress within the section was robust throughout all manufacturers and areas, outperforming the PM&E section in comparable areas.
- Way of life confirmed a 12.0 % enhance in RevPAR in contrast with the second quarter of 2024. Resort lodges continued to carry out effectively through the quarter, notably in Turkey, Egypt, and the United Arab Emirates.
Consolidated Income
Accor recorded income of $3,132,882 within the first half of 2025, up 2.5 % in contrast with the primary half of 2024. This progress breaks down right into a 0.1 % enhance for the Premium, Midscale, and Financial system divisions and 5.6 % for the posh and way of life division.
Foreign money results had a destructive impression of $78.75 million, primarily associated to the Brazilian actual (13 %), the Australian greenback (4 %), and the Canadian greenback (4 %). At fixed forex, income elevated by 5.1 % within the first half of the yr.
Scope results, primarily associated to the full-year impression of the acquisition of Rikas (in March 2024) and the opening of recent Paris Society venues within the Luxurious & Way of life division (Lodge Belongings & Different exercise), contributed positively for $41.08 million.
Premium, Midscale & Financial system Income
Premium, midscale, and economic system, which incorporates charges from administration & franchise (M&F), providers to house owners, and lodge property, and different actions of the group’s premium, midscale, and economic system manufacturers, generated income of $1.68 million, up 0.1 % in contrast with the primary half of 2024, additionally impacted by forex results.
The administration and franchise (M&F) income stood at $487.1 million, down 0.8 % in contrast with the primary half of 2024. This decline primarily displays the destructive impression of conversions of a restricted variety of administration contracts to franchise contracts, as anticipated, in addition to the unfavorable impression of forex results.
Companies to house owners’ income, which embrace gross sales, advertising and marketing, distribution, and loyalty division, in addition to shared providers and reimbursement of prices incurred on behalf of lodge house owners, totaled $635.6 million, up 3.5 % in contrast with the primary half of 2024. This enhance primarily displays an enchancment in distribution and loyalty program charges.
Lodge property and different income was down 2.8 % in contrast with the primary half of 2024. This exercise is strongly linked to enterprise in Australia and Brazil. It’s subsequently considerably impacted by destructive forex results associated to the Brazilian actual and the Australian greenback.
Luxurious and Way of life Income
Luxurious and way of life, which incorporates charges from administration and franchise (M&F), providers to house owners, and lodge property and different actions of the group’s luxurious and way of life manufacturers, generated income of $1.49 million, up 5.6 % in contrast with the primary half of 2024, additionally impacted by forex results.
The administration and franchise (M&F) income stood at $278.4 million, up 0.6 % in contrast with the primary half of 2024. Stable RevPAR progress over the interval was offset by decrease exercise in way of life residences within the first half and vital destructive forex results. The efficiency of the administration & franchise enterprise is detailed within the pages hereafter.
Companies to house owners’ income, which embrace gross sales, advertising and marketing, distribution, and loyalty division, in addition to shared providers and reimbursement of prices incurred on behalf of lodge house owners, totaled $819.4 million, up 0.3 % in contrast with the primary half of 2024.
Lodge property and different income was up 23.0 % in contrast with the primary half of 2024. This exercise features a vital scope impact linked to the full-year impression of the acquisition of Rikas (in March 2024) and the opening of recent Paris Society venues.
Administration and franchise income got here to $765.76 million, down 0.3 % in contrast with the primary half of 2024 and up 1.7 % at fixed forex. This variation displays RevPAR progress throughout the group’s varied areas and segments (up 4.6 % in contrast with the primary half of 2024), offset by the impression of forex results, the unfavorable phasing of the residences exercise within the luxurious and way of life division, and the conversion of a restricted variety of administration contracts to franchise contracts within the premium, midscale and economic system division.
Within the PM&E division, the ENA area is especially impacted by conversions of a restricted variety of administration contracts to franchise contracts, whereas the MEA APAC and Americas areas are primarily impacted by forex results.
Within the luxurious and way of life division, each segments have been negatively affected by forex results. The approach to life section was notably impacted by the totally different phasing of the residences exercise final yr.
