Half-Year Results: Accor Posts Stable Growth
by Anna Ntemiris (ahgz)
The French hotel group increased its revenue and operating result in the first half of 2026. Demand in Germany is weakening.
According to the half-year results published on Thursday, currency-adjusted revenue rose to €2.76 billion. That is an increase of three percent compared with the first half of 2025. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, adjusted for special items) increased by 6.5 percent to €563 million.
For the German market, Accor reported a slightly declining RevPAR (Revenue per Available Room) trend in the second quarter. The company attributes the falling hotel demand in Germany over the past three months to a lack of major events.
Middle East conflict is felt
Worldwide, revenue per available room rose by 2.2 percent in the first half of the year – excluding the Middle East, it rose by as much as 4.6 percent. "In this half-year too, the group achieved solid growth despite the disruptions caused by the situation in the Middle East," said CEO Sébastien Bazin. The conflict in the Middle East, which broke out at the end of February, had a strong impact on business in the region, reflected above all in the development of the lifestyle segment.
"Nevertheless, the diversification of our hotel portfolio – both geographically and across different segments – combined with strict cost discipline secured the group's growth," the half-year report states. In the first half of the current year, Accor opened 109 hotels with a total of almost 14,000 rooms, corresponding to a net increase of 3.2 percent compared with the previous twelve months. At the end of June 2026, the group had a hotel portfolio of 881,928 rooms (5,835 hotels) and a pipeline of more than 268,000 rooms (1,595 hotels).
Selected key figures for the Premium, Midscale and Economy division (PM&E)
- The Europe and North Africa (ENA) region recorded a RevPAR increase of 0.2 percent in the second quarter compared with the second quarter of 2025, driven slightly by prices.
- In France, which accounts for 44 percent of the region's room revenue, RevPAR growth slowed in Paris while accelerating in the rest of the country, supported by strong leisure demand. RevPAR growth was therefore slightly positive at the national level in the second quarter, in line with the first quarter.
The Luxury & Lifestyle (L&L) division recorded a RevPAR decline of 1.4 percent compared with the second quarter of 2025, driven by occupancy rates. Excluding the Middle East, RevPAR in the division grew by 9.4 percent.
Forecast for the rest of the year
For fiscal 2026, Accor expects full-year RevPAR growth of between 2.0 and 2.5 percent, based on current market conditions and assuming a significant deterioration in the macroeconomic environment. "Looking at the rest of 2026, we expect continued growth and remain fully focused on executing our strategic roadmap," said Sébastien Bazin.
The signing of a final, binding agreement with leading investors on the sale of Accor's stake in Essendi is an important milestone that completes Accor's transition to a consistent asset-light model that is simple, clear and predictable.
Active in more than 110 countries
The hotel group Accor, headquartered in Paris, operates in more than 110 countries with over 5,800 hotels and resorts. The group includes around 45 hotel brands, from luxury to economy, as well as the lifestyle division with Ennismore.
This report first appeared on ahgz.de.
