A few days after releasing the company’s full-year 2025 results, Accor Group Chairman and CEO Sébastien Bazin hosted a virtual media roundtable to discuss the company’s revenue, unit growth and future plans.
Bazin said he was “relieved” that the company had met its goals for 2025 in what he described as “a very stormy environment.” Accor’s Premium, Midscale and Economy division posted a 5.8 percent increase in revenue per available room compared with the fourth quarter of 2024, primarily driven by prices.
The Americas region posted an 11.7 percent increase in RevPAR compared with the fourth quarter of 2024, mainly driven by performance in Brazil, which represents 64 percent of the region's room revenue. (Brazil benefited from November’s UN Climate Change Conference, held in Belém, where Accor has eight hotels.)
The company’s Luxury & Lifestyle division posted a 9.5 percent increase in RevPAR compared with the fourth quarter of 2024, driven by both prices and occupancy rates.
Luxury, which accounts for 71 percent of the division's room revenue, posted a 9.4 percent increase in RevPAR compared with the fourth quarter of 2024. RevPAR growth in the segment strengthened across all brands and regions, outperforming the PM&E segment in comparable areas and confirming the momentum observed in previous quarters.
Lifestyle posted a 9.9 percent increase in RevPAR compared with the fourth quarter of 2024. Resort hotels remained a key contributor to this growth, particularly in Turkey, Egypt and the United Arab Emirates, while the “Lifestyle collective” hotels also recorded their strongest RevPAR growth in FY 2025.
For FY 2025, the Group recorded revenue of €5.64 billion, up 4.5 percent at constant currency compared with FY 2024. This increase breaks down into a 2.4 percent rise at constant currency for the Premium, Midscale and Economy division and a 9.8 percent rise at constant currency for the Luxury & Lifestyle division.
Currency effects had a negative impact of €217 million, mainly related to the Australian dollar ((6) percent), the U.S. dollar ((4) percent) and the Canadian dollar ((6) percent).
Consolidated recurring earnings before interest, taxes, depreciation and amortization came to €1.2 billion for FY 2025, up 13.3 percent at constant currency compared with FY 2024, exceeding the Recurring EBITDA growth guidance of between 11 percent and 12 percent at constant currency announced in October 2025.
Profit
Openings
During FY 2025, Accor opened 303 hotels, corresponding to nearly 51,000 rooms, representing a net unit growth of 3.7 percent over the past 12 months. At the end of December 2025, the Group had a hotel portfolio of 881,427 rooms (5,836 hotels) and a pipeline of more than 257,000 rooms (1,527 hotels).
On April 17, Accor announced it had entered into exclusive negotiations with Royal Holiday Group to acquire the management activity including 17 management agreements (3,200 rooms). The portfolio includes six existing all-inclusive resorts in Mexico (1,660 rooms) to be managed by Ennismore, as well as eleven existing resorts and city hotels in Mexico, Argentina, Puerto Rico and the U.S. (1,540 rooms) to be managed by Accor PM&E Americas.
Accor expects to accelerate growth in the region—particularly in Mexico—and to strengthen its all-inclusive resort portfolio.
Bazin noted sub-Saharan Africa as an up-and-coming “dominant” region in terms of population growth—and a strong market for development. “Twenty years from today, Nigeria will have a better population than the U.S.,” he said. At the same time, operating in these emerging markets is “tough,” he said— “tough in terms of scale, tough in terms of your customers, counterparty [and] geopolitical complexity.”
Further out, Bazin sees more growth in Accor’s all-inclusive portfolio, and said the company’s Rixos brand would expand in Mexico and Canada.
Outlook
The upcoming FIFA World Cup is set to bring visitors to a number of cities across the U.S., Canada and Mexico when it begins in June. Bazin acknowledged that other companies have higher market share in most American hubs, but predicted Accor would “play to [its] strengths” in Toronto. “I'm sure we're going to play to some strengths in New York and Los Angeles, but we have nothing to offer, as such, in Kansas City,” he said.
While the U.S. dollar has weakened over the past year, Bazin said this has not affected inbound travel to Europe, and recent tariffs have not affected service at its hotels. “We don't see anything of substance that actually could [negatively impact] the years ahead,” he noted.
The company confirmed its medium-term prospects as communicated during the Capital Market Day held on June 27, 2023, including:
- Annual RevPAR growth between 3 percent and 4 percent (CAGR 2023-27)
- Average annual net unit growth between 3 percent and 5 percent (CAGR 2023-27)
- Recurring EBITDA growth between 9 percent and 12 percent at constant currency (CAGR 2023-27). Based on expected exchange rates for FY 2026, the reported change in recurring EBITDA for FY 2026 would be negatively impacted by approximately €30 million.