First-Quarter 2026 Revenue: Solid activity in a challenging environment

• Group revenue up 2.3% at constant currency to €1,313 million 

• Management & Franchise revenue up 8.3% at constant currency to €332 million

• RevPAR up 5.1% compared with Q1 2025

• Net unit growth up 3.8% over the last twelve months

Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said:

In the first quarter of 2026, the Group once again posted steady growth, as the strong momentum from the start of the year more than offset the effects of the conflict in the Middle East. On the ground, our teams are fully committed to adapting our operations to the needs of our property owners and customers. The Group has also implemented measures to protect results, enabling us to minimize the impact of the situation on our performance, prepare for the rebound, and capture growth in regions temporarily benefiting from increased demand, such as Europe and Southeast Asia. Our diversified geographic footprint, the quality of our brand portfolio, and our ability to adapt thus allow us to be confident in our ability to once again deliver improved performance in 2026.

The hotel business during the first two months of 2026 was remarkably solid, consistent with the momentum observed in the fourth quarter of 2025. The conflict in the Middle East, which began at the end of February, has since severely disrupted the macroeconomic and geopolitical context. Activity in the Middle East, primarily in the United Arab Emirates, has been strongly impacted, while demand in other Accor geographies is holding up. The evolution of the conflict and its impacts remain uncertain. Nevertheless, the Group’s growth algorithm remains intact.

In the first quarter of 2026, Accor opened 48 hotels corresponding to more than 6,700 rooms, representing a net unit growth of 3.8% over the last twelve months. At the end of March 2026, the Group had a hotel network of 879,676 rooms (5,815 hotels) and a pipeline of 260,000 rooms (1,545 hotels).

First quarter 2026 RevPAR

The Premium, Midscale and Economy (PM&E) division posted a 4.5% increase in RevPAR compared with the first quarter of 2025, primarily driven by prices.

• The Middle East, Africa and Asia-Pacific region posted a 5.5% increase in RevPAR compared with the first quarter of 2025, driven almost solely by prices.

  • Southeast Asia, which accounts for 32% of the region’s room revenue, once again became the area with the strongest growth in the region. Thailand and Indonesia, which had experienced a challenging 2025, saw their RevPAR variation return to positive territory in the first quarter of 2026. Singapore and Japan also continued to show solid growth during the period.

  • In the Middle East Africa region, which accounts for 27% of the region’s room revenue, RevPAR growth remained positive despite the conflict that began on February 28th, impacting the activity more significantly as of mid-March. The United Arab Emirates posted a 9% decrease in RevPAR during the first quarter, while Saudi Arabia and Egypt RevPARs grew during the period.

  • The Pacific, which accounts for 26% of the region’s room revenue, continued to show strong RevPAR growth, consistent with the trend observed during fiscal year 2025.

  • In China, which accounts for 15% of the region’s room revenue, RevPAR trends continued to improve sequentially but remained slightly negative.

• The Americas region, which mainly reflects the performance of Brazil (59% of the region’s room revenue), posted a 9.1% increase in RevPAR compared with the first quarter of 2025.

The Luxury & Lifestyle (L&L) division posted a 6.0% increase in RevPAR compared with the first quarter of 2025, two-third driven by prices.

• Luxury, which accounts for 72% of the division’s room revenue, posted a 6.8% increase in RevPAR compared with the first quarter of 2025. All brands and regions except Middle East contributed to this strong performance, confirming global demand for this segment.

• Lifestyle, which is more exposed to the Middle East, posted a 4.2% increase in RevPAR compared with the first quarter of 2025. Resort hotels, due to their strong presence in the United Arab Emirates, were more strongly impacted by the conflict. “Lifestyle collective” hotels, for their part, continued to show solid RevPAR growth throughout the quarter.

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