Accor observes strong recovery in activity during summer and expands its portfolio with the opening of 82 hotels as per its Q3 2021 revenue results. At end-September 2021, the group had a hotel portfolio of 769,000 rooms (5,252 hotels) and a pipeline of 211,000 rooms (1,187 hotels). The Group revenue for the third quarter of 2021 came in at €589 million, up 79% as reported, and 79% like-for-like versus Q3 2020 yet down about 40% compared with 2019.
RevPAR improved by 20 percentage points versus Q2 2021, reflecting a strong activity recovery seen over the summer. Over the quarter, the strong demand translated into higher prices than in Q3 19 in leisure destinations such as French and British provinces, the UAE and the US with strong lifestyle hotels. At the same time, September and October confirmed the return of business travellers and some MICE activity. “This third quarter of 2021 saw a genuine pick-up in demand. Our business was very strong this summer in Europe, the Middle East and the Americas, particularly for our leisure destinations. These trends are expected to persist out to the end of the year. People are very keen to travel again,” said Mr. Sébastien Bazin, Chairman and Chief Executive Officer, Accor.
