Accor is on track to meet its targets thanks to growth in the APAC and Latin America markets, it has announced.
The hotel group said it remained “reasonably optimistic” for the year-end having continued with its expansion and opened 5,600 rooms in the third quarter.
It is expected to show “sustained robust demand” into the fourth quarter thanks to convention and events business in Paris, London and Germany with a full-year EBIT target of EUR510-530 million (GBP413-430m).
In its third quarter results, RevPAR excluding tax improved in Germany and Italy for its upscale and mid-market hotels, while the largest decreases were in the UK and Netherlands. However figures in the UK were improved for its UK hotels and Germany, while its Spanish and Dutch hotels posted double-digit drops in RevPAR.
Accor has recently embarked on several acquisitions, expansions and renovations to its portfolio including the roll-out of more Pullman hotels across Europe; a brand relaunch of ibis and the takeover of several Latin American properties.