Accor Group's third-quarter revenue per available room, occupancy and average daily rates all increased year over year, Accor CFO Martine Gerow said Thursday during an earnings call. She noted, though, the hotel company is "starting to see some leveling off in the U.S.," in terms of RevPAR.
In Q3, Accor's systemwide RevPAR was €77, up 14.7 percent year over year. RevPAR for Accor's Premium, Midscale & Economy group was €64, up 14.9 percent, and RevPAR for its Luxury & Lifestyle group was €163, up 14.2 percent.
In Q3, Accor's systemwide ADR was €110, up 9.8 percent year over year. The Group's average occupancy in the quarter was 70.1 percent, up 3 percentage points.
RevPAR gains in the Premium, Economy & Midscale segment were led by the Asia-Pacific region which, in Accor's reporting, includes the Middle East and Africa. Together, these regions reported year-over-year RevPAR up 25 percent, Gerow said. This was driven by both volume and rate, she added. This region and business sector was also a standout for Accor in Q2.
Additionally, in Q3, the Middle East was supported by a "solid price increase" and slight occupancy increase, which has recovered to pre-pandemic levels, Gerow added.
More specifically in Asia-Pacific, China also reported strong growth in the quarter, with RevPAR up 44 percent year over year, surpassing 2019 levels, Gerow said.
In the Americas, RevPAR increased 13 percent year over year. In the ENA region, which includes Europe and North Africa, RevPAR increased 9 percent.
Additional Q3 Results
As of Sept. 30, Accor's Premium, Midscale & Economy pipeline included 1,025 hotels and 171,000 guest rooms. Accor's Luxury & Lifestyle pipelines included 248 hotels and 47,000 guest rooms. These pipelines all represent slight increases over the second quarter.
Accor's total portfolio in Q3 included more than 812,000 guest rooms and 5,500 hotels.
In the third quarter, Accor reported €139 million in revenue, up 12 percent year over year.
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