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Accor Q3 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 TU earnings summary23 Oct, 2025
Executive summary
Q3 2025 revenue was €1,369 million, flat at constant currency, with like-for-like RevPAR up 0.8% and September RevPAR rebounding to +3%, driven by the ENA region.
Full-year recurring EBITDA growth guidance was upgraded to 11%-12% at constant currency, reflecting strong profit protection and a confident Q4 outlook.
€743 million was returned to shareholders YTD through share buybacks and dividends, with a new €100 million tranche to be launched in Q4 2025.
LTM net unit growth accelerated to 2.5%, with pipeline up 8.2% year-over-year.
Cost discipline and profit-protection measures of over €20 million were implemented to offset FX headwinds.
Financial highlights
Group revenue for Q3 2025 was €1,369 million, flat at constant currency, down 4.6% at current rates due to FX.
Management & Franchise revenue rose 3.1% at constant currency, outpacing RevPAR growth.
Premium, Midscale & Economy division revenue declined 1.1% at constant currency, while Luxury & Lifestyle division revenue increased 0.2%.
SMDL revenue adjusted for Olympics up 6% at constant currency.
Currency effects negatively impacted revenue by €68 million, mainly due to weaker AUD, USD, and CAD.
Outlook and guidance
Full-year recurring EBITDA growth guidance raised to 11%-12% at constant currency, with a €60 million negative FX impact expected.
Like-for-like RevPAR growth guidance maintained at 3%-4%.
Net unit growth expected at circa 3.5% for 2025, with further acceleration targeted for 2026 and beyond.
New €100 million share buyback tranche to be launched in Q4 2025.
Ennismore listing: What value creation
What drove the EBITDA guidance upgrade?
What are key RevPAR drivers in ENA and MEA APAC?
Detail profit protection measures' future impact.
Ennismore listing: Accor's role and process?
NUG acceleration drivers beyond 2025?
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Next Accor earnings date
Q4 202511 Feb, 2026
Accor
Next Accor earnings date
Q4 202511 Feb, 2026
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Frequently asked questions
Accor SA is a leading global hospitality company that operates a wide portfolio of hotels and accommodations. The company manages and franchises a broad range of brands, from luxury to economy, including well-known names such as Sofitel, Pullman, Novotel, Mercure, and Ibis. Accor provides services across the hospitality spectrum, including hotel management, food and beverage services, and customer loyalty programs. The company is headquartered in Issy-les-Moulineaux, France, and its shares are listed on the Euronext Paris.
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