Accor Group preliminarily projects 2025 negotiated corporate rates to increase by "mid-single digits" year over year, CFO Martine Gerow said Thursday during the company's third-quarter earnings presentation, similar to the increase in 2024.
"It's a bit early to tell," Gerow said of 2025 rates. "But in terms of the guidance that we are giving our sales team is to have a rate increase in the same territory as what we did this year, which was … mid-single digits."
Accor's systemwide third-quarter revenue per available room increased 5.3 percent on a like-for-like, constant-currency basis, Gerow said.
Gerow didn't delve too deeply into Accor's business travel demand but noted "we've seen higher growth coming from business and groups" than leisure customers.
Accor Q3 Performance
Accor's third-quarter systemwide RevPAR increased 5.3 percent year over year to €80. In the Americas region—encompassing North, Central and South America and the Caribbean—it increased 13.2 percent to €42.
Q3 RevPAR in Accor's premium, midscale and economy group increased 4.7 percent to €66, while it increased 6.8 percent in its luxury and lifestyle group to €163.
Third-quarter systemwide average daily rate increased 4.1 percent year over year to €113, while it increased 8.8 percent in the Americas group to €67. It increased 3.9 percent to €93 among the premium, midscale and economy group and 2.8 percent to €241 at luxury and lifestyle properties.
Q3 systemwide occupancy increased 0.8 percentage points year over year to 70.5 percent, while it increased 2.5 percentage points to 62.6 percent in the Americas.
Accor projected full-year 2024 RevPAR to increase 4 percent to 5 percent year over year.
Total Q3 revenue increased 12 percent year over year to €1.43 billion.
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