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Accor Guides to Flat Fourth Quarter on France and Middle East Caution
Accor expects flat global fourth-quarter RevPAR and has factored caution over French unrest and Middle East conflicts into its full-year outlook.
Accor, the Paris-based hotel group, is guiding to a flat fourth quarter worldwide, with management flagging uncertainty in two major markets.
On a Thursday earnings call, group CFO Martine Gerow said Accor had built "some prudence in France given the events" into its full-year outlook, referring to recent French riots. The company said the unrest would have minimal impact on guidance.
France is Accor's largest market, generating 23% of global room revenue, with the Paris region alone accounting for about 12%.
The Middle East represents about 11% of room revenue. The UAE contributes roughly 4% and Saudi Arabia about 5%. Gerow said Accor was cautious about a potentially steeper decline in the region amid the U.S.-Iran war and the Saudi-Houthi war.
Some analysts viewed the implied fourth-quarter guidance as cautious. Accor still expects flat fourth-quarter RevPAR.