​​Accor reported first half revenues up 5.1% in the first six months of 2025, though currency fluctuations dampened profits to the tune of EUR21 million.

Revenues hit a record of EUR2,745 million for the half year, with luxury and lifestyle properties accounting for much of the uplift. However, the Brazilian real fell 13% against the Euro, while both the Australian and Canadian dollar currencies were 4% weaker. In total, these shifts knocked EUR69 million off reported numbers.

A confident report from the chairman

“In the first half of 2025, the group once again posted strong momentum despite a complex geopolitical environment and the impact of exchange rates,” said chairman and CEO Sebastien Bazin. “This solid performance confirms the quality of our brand portfolio and the relevance of our diversified geographic presence, and is the result of the operational and financial discipline that the group implements quarter after quarter.”

Accor splits out its performance measures across two divisions: its Premium, Midscale and Economy (PME) brands, and its Luxury & Lifestyle (L&L) properties.

Stronger pricing of rooms helped the PM&E division raise revpar by 2.9%. The division’s French hotels had a strong second quarter, seeing good tourist volume, particularly in the Paris region. However, in contrast, hotels in the UK and Germany saw softer business in the second quarter.

In the Pacific, hotels rebounded strongly in the second quarter, while hotels in Southeast Asia saw resilient revpar growth. Hotels in the Middle East saw mixed results, with those in the UAE recording double digit growth in revpar, while in Saudi Arabia the same metric was down. The timing of Ramadan, and tougher entry rules for Hajj pilgrims both weighed on demand for accommodation.

For the L&L division it was lifestyle hotels that led the way, with a 12% increase in revpar. Notably leading the charge were resort hotels in Turkey, Egypt and the UAE, operating under brands such as Rixos.

During the first half of the year, the group opened 117 hotels, adding more than 15,000 rooms to its global presence and representing 1.9% net portfolio growth. It finished the period with 5,740 hotels open, plus a further 1,432 signed into its future pipeline.

International partnerships drive growth

During the first half, Accor signed a partnership in India with InterGlobe. The pair aim to grow Accor’s presence in India to 300 hotels by 2030, across a range of its brands. And in the Americas, the group will acquire 17 management agreements from Royal Holiday Group. This will add six all-inclusive resorts in Mexico plus 11 resorts and hotels in Argentina, Mexico, Puerto Rico and the USA.

For the full year of 2025, Accor is maintaining a positive stance. It expects revpar will come in around 3-4% up, while the group’s net unit growth will likely be around 3.5%. It is sticking to its growth commitments made during its June 2023 Capital Markets Day, refusing to be thrown off track by macroeconomic considerations, or short term currency shifts.