Accor hits RevPAR, NUG goals for 2025

ISSY-LES-MOULINEAUX, France — Accor announced RevPAR gains of 4.2% for 2025, including a 7% increase in Q4 and net unit growth of 3.7% as part of its fourth quarter earnings.

For all of 2025, Accor opened 303 hotels and nearly 51,000 rooms, representing NUG of 3.7% over the last 12 months. The company’s pipeline stood at 257,000 rooms and 1,527 hotels.

“We still have the headwinds in so many economies, so many geographies, but yes, we are thrilled with what was achieved by the teams and by the different brands of this company. Why are we relieved and happy? I think because we really delivered on what we’ve been promising to you, which is cost discipline,” said Accor Chairman and CEO Sébastien Bazin during the company’s earnings call, referring to the company’s medium-term growth plan for 2023-27, which calls for annual RevPAR growth between 3-4% and NUG between 3-5%. “So the focus on the execution of the plan is something which is extremely important, has been the case for the last three years, will be the case for the next probably 10 years, and certainly for the next two years until the Capital Market Day is finished by 2027.”

Bazin also confirmed that Accor is in discussions to sell its 30.6% stake in Essendi (formerly AccorInvest), which he said must be closed by the end of 2026.

“We’re not late… it is a 12-18 months process,” he said. “We are exactly in the 12-month benchmark, and we are exactly at the stage we wanted to be, last year, when we talked about it. So nothing to worry about. We know where we’re going, but we’re going to finish the job.”

Bazin also said there haven’t been any changes to the status of a potential Ennismore IPO in the U.S. since he discussed it last October.

“The board of Accor, will be in exploration mode, as is the board of Ennismore, by the way, on exploring the benefits, the constraints, the pluses and minuses of actually a potential listing of Ennismore on any market, which, if we were to do so, will certainly enhance visibility, notoriety, liquidity, and maybe flexibility of Ennismore,” he said.

Bazin also said that if there are any changes to Ennismore’s structure, Accor will remain in control of what he calls a key growth engine for the company.

“Ennismore is an extraordinary asset [for] Accor, and Accor, in any scenario, will intend to remain in control of that growth engine, which is pivotal to the growth of Accor and certainly to the differentiating factors of Accor. So we’re still exploring many different venues,” he said.

Other Q4 highlights

RevPAR for Accor’s Premium, Midscale and Economy (PM&E) division posted a 5.8% increase in Q4 year-over-year, primarily driven by ADR. Other regional RevPAR highlights included Europe and North Africa posting a 3.3% YOY increase in Q4, while the Middle East, Africa, and Asia-Pacific posted a 7.6% YOY increase in Q4.

Accor recorded revenue of €5.639 billion ($6.6 billion), up 4.5% YOY, which included a 2.4% increase for its Premium, Midscale and Economy division and a 9.8% rise for its Luxury & Lifestyle division.

The company’s consolidated recurring EBITDA came to €1.201 billion ($1.41 billion) for 2025, up 13.3% YOY and exceeding its guidance of between 11-12%.