A modest 0.4% increase in revenue per available room (revpar) was recorded across the UK portfolio of French hotel group Accor, according to the company’s results for the third quarter of 2018.
The 1.6% increase in revpar in London was said to reflect “the still-dynamic domestic tourism market”, while a 0.9% decline in regional cities “suffered from political and economic uncertainties related to Brexit”, which have dampened demand from business travellers.
Global revenue for Accor from June to September increased 4.1% on a like-for-like basis, with total revenue climbing by 10.9% to €1,05b (£908m). Revpar worldwide grew by 0.7% with Europe leading the way, up by 1.2%. The Asia-Pacific region recorded a slight decline, down 1.1%, mainly due to an uncertain environment in China.
Sébastien Bazin, chairman and chief executive of Accor, said: “Accor’s third quarter performance was solid, validating the quality of its asset-light model in a mixed international environment. The group once again generated solid revenue growth with steady supply growth and a record-setting pipeline.”
During the period, Accor opened 60 hotels comprising 8,500 rooms, taking the company’s total collection up to 726,345 room across 4,946 hotels.