Accor Records 62.8% Decrease In RevPAR
Hotel group Accor has recorded a 62.8% decrease in revenue per available room (RevPAR) for the third quarter of 2020.
France, UK, Germany, Spain, China, Australia, Africa, Middle East And Americas
The group's RevPAR was down by 44.6% like-for-like in France during the third quarter after being down by 88.6% in Q2.
Meanwhile, RevPAR was down in Q3 by 79.8% in the UK, 60.9% in Germany, 77.2% in Spain, 29.4% in China, 62.7% in Australia, 69.9% in Africa and the Middle East, 83.4% in North America, Central America and the Caribbean, and 90.6% in South America.
Group Revenue And Hotel/Room Stock
Accor also stated that group revenue was down by 68.7% on an as reported basis and by 63.7% on a like-for-like basis in Q3 to €329 million, and that it opened 57 hotels, or 7,800 rooms, during the third quarter of the year.
By the end of September of 2020, Accor was operating 5,121 hotels and 750,135 rooms.
"A Marked Recovery"
Accor chairman and CEO Sébastien Bazin stated, "Our performances during the third quarter point to a marked recovery of business during the summer season. The worst of the crisis is now behind us, but our main markets are still substantially affected by the measures rolled out to combat the health crisis. Only China reports solid performances and should swiftly recover its activity level pre-crisis.
"Against this still uncertain context, discipline, adaptability and cost control are critical. We keep transforming our organisations to make the group even more efficient, more agile, and focused on the most profitable and promising markets and segments. We are also deploying additional sources of revenue, in our hotels and in our loyalty program.
"These efforts will help us benefit faster from recovery and pursue our ambitious development of the group."
© 2020 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.