Accor first-quarter revenue slightly below expectations

Accor SA

23/04/2026 16:49

April 23 (Reuters) - Accor ACCP.PA, Europe's biggest hotel group by portfolio, reported on Thursday a 2.7% drop in first-quarter revenue, which came in slightly below market expectations.

The operator of brands including Ibis and Novotel has a significant exposure to the Middle East. Analysts from Kepler Cheuvreux noted that any escalation of the Iran conflict added risk for the group, saying that roughly 10% of Accor's rooms and 10-15% of its fees come from the region.

Revenue for the three months ending March 31 totalled 1.31 billion euros ($1.53 billion). Analysts polled by the company had expected a marginally higher 1.33 billion.

Revenue per available room (RevPAR) - a key metric for hotels - rose by 5.1% year on year.

RevPar in the United Arab Emirates fell 9% during the first quarter.

The company did not provide a detailed forecast regarding the of the Iran war, saying the effects on the global economy "remain uncertain at the present".

($1 = 0.8540 euros)

(Reporting by Mateusz Rabiega and Jérôme Terroy in Gdansk)

((Mateusz.Rabiega@thomsonreuters.com; +48 58 769 67 57;))