Accor scored a benefit from the Olympic Games in Paris as the French hotel group reported a 12% rise in summer quarter revenues to €1.4 billion.
The increase for the three months to September was led by an 18% year-on-year rise by the group’s luxury and lifestyle division.
The key metric of revenue per available room (repair) was up 5.3% year-on-year.
The company expects profits for the year to exceed €1.1 billion as a result.
Accor opened 47 hotels representing 8,000 rooms in the quarter to give a total of 5,638 properties with a pipeline of a further 1,380.
The Olympics generated strong revpar growth in Paris. Accor’s UK arm saw “slightly positive” revpar growth in line with previous quarters, withsimilar performances between London and the provinces.
Chairman and chief executive Sebastien Bazin said: “Once again this quarter, the group posted solid sales growth, in line with its targets.
“This good performance was driven in particular by the dynamism of our luxury and lifestyle brands, sustained growth in high-potential regions and the positive impact in France of the Olympic Games, for which Accor was one of the premium partners.
“By continuing to combine operational agility, quality of execution and financial discipline, we are convinced of our ability to consolidate the solidity of our business model over the long term and deliver significant growth in our results in 2024.”