Accor reported third-quarter revenue of €589 million, up 79
per cent like for like, year over year, yet down about 40 per cent compared
with 2019.
Accor chairman and CEO Sébastien Bazin in a statement
credited summer leisure demand for the pick-up. "Our business was very
strong this summer in Europe, the Middle East and the Americas, particularly
for our leisure destinations," he said. "These trends are expected to
persist out to the end of the year."
Revenue per available room for the third quarter improved 20
percentage points compared with the second quarter of 2021, but its level of
€40 still was down about 37.3 per cent from 2019's third quarter. Occupancy was
49.8 per cent, a 24.1 percentage-point decline. Average daily rate was €81,
down 7.3 per cent.
In northern Europe, RevPAR was €43, down 38.9 per cent for
the quarter compared with 2019. In southern Europe it was €51, down 24.8 per
cent.
Accor opened about 10,000 rooms across 82 hotels during the
quarter, for net system growth of 2.5 per cent year over year. The company
anticipates full-year 2021 net growth of approximately 3 per cent. As of 30 September,
Accor's portfolio included 769,000 rooms across 5,252 hotels and a pipeline of
211,000 rooms across 1,187 hotels.
Just after the third quarter closed, Accor announced it had
become the majority owner with two-thirds share of a joint venture with luxury
brand operator Ennismore, formed in 2021 and focused on the lifestyle segment.
The company also announced it would offer Groups360's instant meeting-booking
solution and that it was participating in HRS' Green Stay Initiative.