SINGAPORE 26 October 2020: Accor Group’s revenue in the third quarter of 2020 came in at EUR329 million, down by 68.7% as reported and by 63.7% like-for-like due to the effects of the health crisis.
Revue per available room (RevPAR) fell by 62.8% during the third quarter of 2020, described as a “significant sequential improvement in the wake of a difficult second quarter” (RevPAR dropped 88.2%).
This improvement in the decline rate reflects a recovery in business in all regions, and most especially in Europe during the summer season. However, the downturn in leisure customers, in addition to the introduction of new restrictions after the end of August, pushed the recovery back down in September.
Accor opened 57 hotels during the third quarter of the year, or 7,800 rooms, line with 58 hotels, and 8,000 rooms during the first quarter of 2020.
By the end of September 2020, the group was operating 750,135 rooms (5,121 hotels), with a pipeline of 208,000 rooms (1,192 hotels) running at 75% in emerging markets. The group says 90% of its hotels remain open for business.
However, in the Asia-Pacific management and franchise revenue was down by 70.8% like-for-like, affected by RevPAR falling by 58.8%.
In China, the third quarter (RevPAR fell by 29.4%) but again it confirms a level of recovery when compared with the second quarter of the year. This improvement continues month after month (September’s RevPAR was down by 16.8%), and the “golden week” vacation after the national holiday season (first week in October) confirms the potential of domestic tourism.
