Accor Posts 2.2% H1 RevPAR Growth and Adds 109 Properties

Accor reported a 2.2 percent increase in first-half 2026 RevPAR, excluding the Middle East, while adding 109 properties and nearly 14,000 rooms to its global portfolio. The hospitality group generated $3.18 billion in revenue and maintained its full-year RevPAR growth outlook of 2 percent to 2.5 percent, according to Asian Hospitality. [1]

How did geopolitical events affect overall revenue?

The conflict in the Middle East, which began in late February, severely disrupted the macroeconomic and geopolitical environment in the second quarter, Lodging Magazine reported. [2] Activity in the United Arab Emirates was down nearly 80 percent in April and ended the quarter down around 40 percent in June. [2] Despite this, Accor recorded half-year revenue of $3.18 billion, a 3 percent increase at constant currency compared with the first half of 2025. [1] Currency effects had a negative impact of $73,773,120, mainly related to the U.S. dollar dropping 7 percent, the UAE dirham dropping 7 percent, and the Turkish lira dropping 21 percent. [2] Scope effects were also negative at $53,024,430, reflecting the disposal of Paris Society’s “Festive” business in July 2025. [2]

What are the financials for the first half of 2026?

Accor reported that recurring EBITDA increased 6.5 percent to $648.9 million. [1] However, net profit attributable to the group declined to $131.4 million from $268.6 million in the first half of 2025, which the company attributed to higher non-recurring expenses. [1] Adjusted net profit was $266.2 million, compared with $276.6 million a year earlier. [1] Accor launched the second tranche of its share buyback program for $259.3 million, having completed the same amount in the first half. [1]

How did the Premium, Midscale and Economy division perform?

The Premium, Midscale and Economy division posted a 0.1 percent increase in second-quarter RevPAR, driven primarily by higher prices, according to Asian Hospitality. [1] Excluding the Middle East, the division’s RevPAR growth was 1.1 percent. [2] The Europe North Africa region posted a 0.2 percent increase in RevPAR. [1] Within this region, France accounts for 44 percent of room revenue; RevPAR growth in Paris softened, while it accelerated in the rest of the country due to leisure demand, resulting in slightly positive national RevPAR growth. [2] In the UK, which accounts for 11 percent of the region’s room revenue, London remained resilient and RevPAR growth was slightly positive. [2] Germany, also accounting for 11 percent of the region’s room revenue, saw slightly negative RevPAR growth due to a less favorable calendar of events and trade fairs. [2]

The Middle East, Africa and Asia-Pacific region posted a 1.1 percent decrease in RevPAR, driven by a decline in occupancy rates in the Middle East. [2] Southeast Asia, making up 31 percent of the region’s hotel revenue, was the main driver of activity, with strong performance in Japan, Vietnam, and Indonesia. [2] In China, representing 19 percent of the region’s room revenue, RevPAR remained negative as the midscale and economy segments underperformed, though market supply is stabilizing. [2] The Americas region posted a 4.8 percent increase in RevPAR, led by Brazil, which accounts for 56 percent of the region’s room revenue and posted single-digit growth. [2]

What is the performance breakdown for Luxury and Lifestyle?

The Luxury and Lifestyle division posted a 1.4 percent decrease in second-quarter RevPAR due to lower occupancy, but excluding the Middle East, RevPAR grew by 9.4 percent. [1] Luxury, which accounted for 72 percent of the division’s room revenue, posted a 2.5 percent increase in RevPAR, reflecting strong demand across all brands and regions except the Middle East. [2] Lifestyle posted an 11.3 percent RevPAR decline, as resort hotels with greater exposure to the United Arab Emirates were the most affected by the conflict. [2] By contrast, "Lifestyle collective" hotels posted a more limited decline due to lower UAE exposure. [2]

Where does the global development pipeline stand?

During the first half of 2026, Accor opened 109 hotels, representing a net unit growth of 3.2 percent over the last 12 months. [2] Newly opened hotels will generate around $1,960.38 in fees per room annually, whereas churned hotels generated around $1,037.85 in fees per room annually. [2] At the end of June 2026, the group had a hotel portfolio of 5,835 hotels with 881,928 rooms, and a pipeline of 1,595 hotels with more than 268,000 rooms. [1]

What financial maneuvers are planned for the rest of the year?

Accor expects full-year network growth of around 3.5 percent and recurring EBITDA of $1.45 billion to $1.48 billion. [1] The company signed an agreement to sell its stake in Essendi to transition to an asset-light model. [1] Additionally, Accor is planning a U.S. initial public offering for Ennismore, which operates more than 200 hotels and 500 restaurants, with Goldman Sachs leading the offering and BNP Paribas, J.P. Morgan, and Societe Generale acting as advisers. [1] Accor and InterGlobe Enterprises are also considering an IPO for their hotel joint venture in India, which plans to open 300 properties by 2030 and has shifted its focus to luxury properties. [1]