Accor announced Third-quarter 2026 results; upgrades its EBITDA guidance

During the third quarter 2026, Accor opened 63 hotels, corresponding to nearly 9,000 rooms, representing a net unit growth of 3.0% over the last 12 months.

Key Takeaways
- RevPAR: +4.9% year-over-year
- Revenue: €1.503 billion, up 7.7% at constant currency
- Net unit growth: +3.0%
- Pipeline: More than 273,000 rooms across 1,628 hotels, up 9.5%
- Hotel portfolio: 5,857 hotels representing 885,219 rooms

Upgraded 2026 Outlook
Accor raised its full-year earnings guidance and now expects:
- Recurring EBITDA: €1.27 billion to €1.285 billion
- Previous guidance: €1.26 billion to €1.285 billion
- RevPAR growth: Upper end of the 2.0% to 2.5% range
- Network growth: 3.0% to 3.5%

What Drove Growth?
Luxury & Lifestyle Leads
- The strongest contributor was Accor's Luxury & Lifestyle division:
- RevPAR: +8.3%
- Revenue: +11.6%
- Luxury segment RevPAR: +8.9%
- Lifestyle segment RevPAR: +7.1%

Demand remained strong across most regions and brands, with average room rates driving much of the growth.
- Premium, Midscale & Economy
- RevPAR: +3.2%
- Revenue: +2.1%
- Growth was primarily price-driven rather than occupancy-driven.

Regional Highlights
Europe North Africa
- RevPAR: +2.5%
- France benefited from a busy September events calendar.
- Germany returned to positive demand growth.
- UK performance remained resilient.

Middle East, Africa & Asia-Pacific
- RevPAR: +3.6%
- Strong contributions from Japan, Indonesia and Thailand.
- UAE performance improved from Q2 but remained roughly 20% below Q3 2025 levels due to ongoing effects of the Middle East conflict.

Americas
- RevPAR: +6.5%
- Brazil continued to post healthy growth, though at a more moderate pace than earlier in the year.

Development Activity
During Q3, Accor opened:
- 63 hotels
- Nearly 9,000 rooms
- The company continues to grow both organically and through its development pipeline.

Strategic Developments
American Express Partnership
- Accor's ALL loyalty program announced a new global partnership with American Express, featuring:
- Elite status matching
- Membership Rewards points transfers
- Rollout beginning across 12 markets

Essendi (Formerly AccorInvest) Stake Sale
- Definitive agreement signed with Blackstone and Colony IM.
- Accor plans to sell its ~30.7% stake for up to €975 million.
- Transaction expected to close in Q4 2026, subject to approvals.
- Accor intends to return most proceeds through an additional €500 million share buyback program.

Management Commentary
CEO Sébastien Bazin emphasized that:
- Luxury and lifestyle brands continue to outperform.
- Major events across key markets boosted demand.
- Strong cost discipline helped offset geopolitical uncertainty.
- Management remains confident that 2026 will be another year of growth driven by Accor's brand portfolio, luxury positioning, and expansion in growth markets.