Accor has upgraded its full-year recurring EBITDA guidance to between 11% and 12%, up from a previous forecast of 9% to 10%, citing resilient performance across its portfolio in the third quarter of 2025.
The group, which operates more than 5,700 hotels worldwide, reported a 3.1% rise in management and franchise revenue at constant currency for the quarter. It also announced a €100m (£85m) share buyback to be launched in the fourth quarter.
Chief executive Sébastien Bazin said the group’s brand appeal and geographic diversity continued to drive growth “despite a mixed macroeconomic environment”. He added that profit protection measures were supporting the improved outlook.
Group revenue for the quarter stood at €1.37bn (£1.17bn), broadly stable year-on-year at constant currency. Revenue in the premium, midscale and economy division fell 1.1%, while the luxury and lifestyle division rose 0.2%.
Regional results showed a 4.6% decline in revenue per available room (RevPAR) in Europe and North Africa, reflecting a normalisation in pricing following the 2024 Paris Olympic and Paralympic Games. The Americas grew 7.1%, supported by continued corporate demand in Brazil, while the Middle East, Africa and Asia-Pacific rose 2.7%.
Accor opened 77 hotels in the quarter, adding 11,200 rooms, for annual network growth of 2.5%. At the end of September, its portfolio totalled 5,760 hotels with 859,830 rooms.
The group also confirmed that preparatory work is under way to explore a potential stock market listing for Ennismore, its lifestyle brands business, while maintaining control of the entity. Ennismore operates 192 hotels and more than 500 restaurants and bars worldwide.
In addition, Accor completed a €240m (£204m) share buyback in September and issued a €500m (£425m) seven-year bond with a 3.625% coupon to refinance notes maturing in early 2026.
