Leisure travel offsets muted business segments amid challenging economic conditions
Aug 5, 2025
Accor posted solid revenue growth in the first half of 2025, despite flat business travel demand and geopolitical headwinds. Leisure travel drove much of the company’s performance, helping offset weak demand in key European markets and the impact of unfavorable foreign exchange rates.
Key takeaways
- Flat business demand: Business transient and group segments remained stagnant in Q2, with no notable growth compared to Q1.
- Revenue growth: Total revenue for H1 2025 rose 2.5 percent year over year to €2.7 billion, with systemwide RevPAR up 4.1 percent.
- Leisure travel as driver: Growth was primarily supported by the leisure segment, counterbalancing sluggish business travel.
- Regional performance differences: France performed strongly in Paris but only slightly positive in regional areas; the U.K. and Germany saw declines due to economic concerns and tough year-over-year comparisons.
- Outlook: Accor expects softer revenue growth in the second half due to the post-Olympic comparison but reaffirmed its full-year RevPAR growth guidance of 3–4 percent.
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