Finance
Accor First-Quarter Revenue Slightly Below Expectations
Published by Global Banking & Finance Review®
Posted on April 23, 2026
2 min readLast updated: April 23, 2026
Add as preferred source on GoogleQuick Summary
Accor’s Q1 revenue slipped 2.7% to €1.31 billion, slightly missing the €1.33 billion analysts expected. RevPAR rose 5.1% year‑on‑year, though UAE RevPAR fell 9%, amid heightened risks from Middle East unrest accounting for ~10% of rooms and fees.
Accor first-quarter revenue slightly below expectations
Accor Q1 2025 Financial Performance Overview
April 23 (Reuters) - Accor, 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.
Regional Exposure and Revenue Breakdown
The operator of brands including Ibis and Novotel has a significant exposure to the Middle East, with the company saying that the region accounted for 8% of its room portfolio as of the end of December 2025, and 12% of room revenue last year.
First-Quarter Revenue Results
First-quarter revenue totalled 1.31 billion euros ($1.53 billion). Analysts polled by the company had expected a marginally higher 1.33 billion.
Key Metrics: RevPAR and Regional Performance
Revenue per available room (RevPAR) - a key metric for hotels - rose 5.1% year on year but fell 9% in the United Arab Emirates.
Impact of Middle East Conflict on Demand
Accor CFO Martine Gerow said on a conference call that the quarter had started strongly in January and February before a "significant" drop in demand in the Middle East since the start of the Iran war.
March Decline and Future Outlook
In March, the decline was "almost exclusively" due to lower occupancy, while price declines remained limited, she said. Gerow added that the impact of the conflict and its consequences for the global economy "remain uncertain", though Accor still expects growth in 2026.
Currency Exchange Rate
($1 = 0.8540 euros)
Reporting Credits
(Reporting by Mateusz Rabiega and Jérôme Terroy in Gdansk' Editing by Kirsten Donovan)
Key Takeaways
- •First‑quarter revenue €1.31 bn vs analysts’ €1.33 bn forecast — a modest miss.
- •Group RevPAR rose 5.1% year‑on‑year; UAE RevPAR declined 9%, underlining regional volatility.
- •Middle East exposure (≈10% of rooms and fees) poses heightened geopolitical risk, especially given the Iran conflict.
Frequently Asked Questions about Accor first-quarter revenue slightly below expectations
1What was Accor's first-quarter revenue in 2024?
Accor reported first-quarter revenue of 1.31 billion euros ($1.53 billion) for the three months ending March 31, 2024.
2How did Accor's Q1 revenue compare to analyst expectations?
Accor's Q1 revenue was slightly below expectations, with analysts predicting 1.33 billion euros compared to the reported 1.31 billion euros.
3How much exposure does Accor have to the Middle East?
Accor has significant exposure to the Middle East, with about 10% of its rooms and 10-15% of its fees coming from the region.
4What was the change in revenue per available room (RevPAR) for Accor?
Accor's revenue per available room (RevPAR) increased by 5.1% year on year, though RevPAR in the UAE fell by 9% in Q1.
