Accor Group is projecting that negotiated corporate rates will increase by “mid-single digits” in 2025 compared with 2024, according to Martine Gerow, CFO, speaking on a third quarter earnings call, She also said the company has seen higher growth coming from business and groups rather than from the leisure market.
Accor’s third-quarter systemwide RevPAR increased 5.3% year over year to $86.57. In the Americas region — including North America, Central America, South America and the Caribbean — it increased 13.2% to $45.44. In the third quarter, RevPAR in Accor’s premium, midscale and economy group increased 4.7% to $71.44 while it increased 6.8% in its luxury and lifestyle group to $176.43.
Systemwide average daily rate (ADR) increased 4.1% year over year to $122.25, while it increased 8.8% in the Americas group to $72.48.
Systemwide occupancy in the third quarter increased 0.8 percentage points year over year to 70.5%, while it increased 2.5 percentage points to 62.6% in the Americas.
Accor projected full-year 2024 RevPAR to increase 4%-5% year over year.
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