Accor reported its third-quarter 2025 outcomes.
Highlights embrace:
- Administration and franchise income elevated 3.1 % at fixed forex within the third quarter of 2025.
- Recurring EBITDA steerage upgraded between 11 % and 12 % (initially between 9 % and 10 %) at fixed forex
- Launch of a share buyback tranche for $116,081,000 within the fourth quarter of 2025.
Sébastien Bazin, chairman and chief government officer of Accor, stated, “The Group continued to develop and develop its community in the course of the third quarter of 2025. This efficiency demonstrates the attraction of its manufacturers and the variety of its geographical places, which have enabled it to take care of sturdy momentum regardless of a combined macroeconomic setting. To deal with these uncertainties, the Group’s revenue safety measures are proving efficient and now allow us to boost our recurring EBITDA progress goal for the 12 months.
“We’re subsequently pursuing our progress trajectory and operational and monetary self-discipline, whereas activating new levers for worth creation. That is the rationale behind the launch of a brand new share buyback program. Additionally it is why we’re exploring the potential for a possible itemizing of Ennismore, our way of life manufacturers portfolio. As a key asset for the Group, we intend, if this transaction happens, to retain management whereas offering it with much more assets to speed up its improvement.”
Throughout the third quarter of 2025, Accor opened 77 lodges, representing 11,200 rooms, leading to web progress of two.5 % within the community during the last 12 months. On the finish of September 2025, the Group had a lodge portfolio of 859,830 rooms (5,760 lodges) and a pipeline of greater than 250,000 rooms (1,453 lodges).
Third-Quarter 2025 RevPAR
The Premium, Midscale, and Economic system (PM&E) division posted a 1.1 % lower in RevPAR in contrast with the third quarter of 2024, pushed by pricing. Occupancy was barely larger over the interval, reflecting sustained demand.
- Luxurious, which accounts for 72 % of the division’s room income, posted a 4.3 % improve in RevPAR in contrast with the third quarter of 2024. RevPAR progress within the phase was sturdy throughout all manufacturers and areas, outperforming the PM&E phase in comparable areas.
- Life-style confirmed a 6.9 % improve in RevPAR in contrast with the third quarter of 2024. Regardless of geopolitical tensions, resort lodges continued to carry out effectively in the course of the quarter, notably in Turkey, Egypt, and the United Arab Emirates.
Consolidated Income
- For the third quarter of 2025, the Group recorded income of $1,588,929.85, up 0.1 % at fixed forex in contrast with the third quarter of 2024. This improve breaks down right into a 1.1 % lower at fixed forex for the Premium, Midscale, and Economic system division and a 0.2 % improve at fixed forex for the Luxurious & Life-style division.
- Foreign money results had a detrimental influence of $78,923,520, primarily associated to the Australian greenback (8 %), the US greenback (6 %), and the Canadian greenback (7 %).
- Scope results, primarily associated to the disposal of the Paris Society’s “Festive” enterprise, contributed negatively by $22,052,160. The third quarter of 2024 included $30,176,640 in Olympic-related value-in-kind income, with no influence on recurring EBITDA. Collectively, these two results had a detrimental 3 % influence on third-quarter income.
- To be able to present larger readability concerning the Companies to House owners exercise and its progress drivers, the Group has chosen to isolate Reimbursed Prices (which encompass the re-invoicing of prices incurred on behalf of lodge homeowners), whose income progress on a like-for-like foundation primarily displays the expansion in payroll prices in North America. Reimbursed Prices haven’t any influence on recurring EBITDA, and this new presentation doesn’t have an effect on the medium-term progress outlook given on the Investor Day in June 2023.
- SMDL (Gross sales, Advertising and marketing, Distribution & Loyalty) actions proceed to be reported inside every of the Premium, Midscale, and Economic system & Luxurious & Life-style divisions.
Premium, Midscale & Economic system evenue
Premium, Midscale, and Economic system, which included charges from Administration & Franchise (M&F), Gross sales, Advertising and marketing, Distribution & Loyalty (SMDL), and Resort Property & Different actions of the Group’s Premium, Midscale, and Economic system manufacturers, generated income of $849,679,980, down 1.1 % at fixed forex in contrast with the third quarter of 2024.
The Administration & Franchise (M&F) income stood at $264,641,880, down 1.2 % at fixed forex in contrast with the third quarter of 2024. This decline primarily displays the detrimental variation of RevPAR within the division and the detrimental influence of conversions from a restricted variety of administration contracts to franchise contracts, as anticipated. The efficiency of Administration & Franchise by area is detailed within the pages hereafter.
Income from Gross sales, Advertising and marketing, Distribution, and Loyalty (SMDL) amounted to $283,213,240, down 6.4 % at fixed forex in contrast with the third quarter of 2024. The third quarter of 2024 included $30,177,940 in Olympics-related value-in-kind income, with no influence on recurring EBITDA. Adjusted for this income, SMDL progress at fixed forex would have been up 4 %.
Income from Resort Property and Different amounted to $301,779,400, up 4.4 % at fixed forex in contrast with the third quarter of 2024. This exercise is strongly linked to the energy of RevPAR in Australia and Brazil.
Luxurious & Life-style Income
Luxurious & Life-style, which included charges from Administration & Franchise (M&F), Gross sales, Advertising and marketing, Distribution & Loyalty (SMDL), and Resort Property & Different actions of the Group’s Luxurious & Life-style manufacturers, generated income of $415,527,020, up 0.2 % at fixed forex in contrast with the third quarter of 2024, which was additionally impacted by forex results.
The Administration & Franchise (M&F) income stood at $146,246,940, up 11.7 % at fixed forex in contrast with the third quarter of 2024. This improve was pushed by progress in RevPAR and the community.
Income from Gross sales, Advertising and marketing, Distribution, and Loyalty (SMDL) actions amounted to $126,523,930, up 11.2 % at fixed forex in contrast with the third quarter of 2024, in keeping with the expansion of the Administration & Franchise enterprise.
Resort property and different income amounted to $142,774,710, down 16.4 % at fixed forex in contrast with the third quarter of 2024. This decline displays an unfavorable foundation of comparability attributable to Potel & Chabot’s sturdy exercise in the course of the Olympic Video games interval, in addition to a big scope impact associated to the disposal of Paris Society’s “Festive” enterprise.
Reimbursement Prices Income
Income from reimbursed prices (which consisted of the re-invoicing of prices incurred on behalf of lodge homeowners) amounted to $344,751,660, up 2.3 % at fixed forex in contrast with the third quarter of 2024.
Administration & Franchise income got here to $410,919,660, up 3.1 % at fixed forex in contrast with the third quarter of 2024. This variation displays RevPAR progress within the Group’s numerous geographic areas and segments (up 0.8 % in contrast with the third quarter of 2024) and web unit progress (up 2.5 %).
Within the PM&E division, the ENA area is especially impacted by the detrimental variation in RevPAR and conversions for a restricted variety of administration contracts to franchise contracts, as in earlier quarters. The MEA APAC and Americas areas have been considerably impacted by forex results, and the Americas area benefited from the popularity of termination charges.
Within the L&L division, each segments primarily replicate strong progress in RevPAR and the community. Within the third quarter of 2025, in distinction to the second quarter, the Life-style phase benefited favorably from the Residences enterprise.
Outlook
For the complete 12 months of 2025, Accor confirmed the next steerage:
- RevPAR progress between 3 % and 4 %.
- Web unit progress of round 3.5 %.
Moreover, following the implementation of extra cost-saving measures amounting to greater than $23,214,800 geared toward partially offsetting the detrimental influence of trade price variations, Accor revised its recurring EBITDA progress steerage for fiscal 12 months 2025 to between 11 % and 12 % (between 9 % and 10 % initially) at fixed trade charges
