Oct 26 (Reuters) – Accor, Europe’s largest hotel group, reported better-than-expected revenue per available room (RevPAR) for the third quarter on Wednesday, continuing the strong improvement in business since the start of the year.
The group, which manages high-end chains Sofitel and Pullman and low-cost brands like Ibis, saw its third-quarter RevPAR increase by 14% compared to the same period in 2019, before the coronavirus pandemic.
This figure also exceeds the forecasts of analysts compiled by the group, which expected an average growth of 9% of this key indicator of the performance of the hotel industry.
Accor’s turnover for the third quarter jumped 83% at constant scope and exchange rates, to 1.15 billion.
For the whole of 2022, the group said it was confident of being able to reach the top of its range of objectives for net profit, which should thus be between 610 million and 640 million euros. (Report Diana Mandia and Dina Kartit; French version Dagmarah Mackos, edited by Jean-Michel Bélot)
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