PARIS (Reuters) – Europe’s largest hotel group, Accor, on Thursday raised its gross operating surplus targets for 2023 for the second time this year, citing the good momentum of its activity in all its markets.
The operator of the Ibis and Novotel hotels now forecasts a gross operating surplus of between 955 and 985 million euros, compared to a previous forecast of 930 to 970 million euros, already revised upwards in July.
The group also revised upwards its forecast for growth in revenue per available room (RevPAR), a key indicator of performance in the hotel industry. He expects it to be slightly above 20%, compared to a previous target at the high end of the range of 15 to 20%.
“This is, for Accor, the sixth consecutive quarter of growth since the return to post-pandemic activity levels,” CEO Sébastien Bazin said in a press release.
“Hotel demand remained very strong throughout the third quarter, which showed a RevPAR up 15% compared to last year despite a very high comparable base,” the group said in a press release.
However, “the first signs of normalization of activity growth are appearing after several quarters of intense recovery,” he added.
(Report by Diana Mandiá; by Kate Entringer, edited by Jean-Stéphane Brosse)
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