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Earnings Score 42 Neutral

Accor Reports Q1 Revenue Dip Amid Asset Disposals and Geopolitical Headwinds

Apr 23, 2026 16:54 UTC
ACRFY.PK, ACRFF.PK
Short term

Hospitality giant Accor saw first-quarter revenues decline by 2.7% to 1.313 billion euros. Despite the overall drop, the group reported growth in its midscale and economy segments.

  • Total Q1 revenue reached 1.313 billion euros
  • Disposals had a -6.2% impact on growth
  • Midscale and Economy segments showed resilience with 4.6% constant currency growth
  • Luxury segment experienced a marginal 0.7% constant currency dip
  • Growth in Southeast Asia and Europe offsetting Middle East volatility

Accor has reported a 2.7% decrease in revenue for the first quarter of 2026, with total earnings falling to 1.313 billion euros from 1.349 billion euros in the prior-year period. The decline was heavily influenced by strategic asset disposals, which negatively impacted revenue growth by 6.2%. Performance varied significantly across the group's brand tiers. The Premium, Midscale, and Economy division generated 663 million euros, representing a 4.6% increase at constant currency. In contrast, the Luxury & Lifestyle segment brought in 341 million euros, reflecting a slight decrease of 0.7% at constant currency. Chairman and CEO Sébastien Bazin noted that strong momentum at the start of the year helped mitigate the adverse effects of the ongoing conflict in the Middle East. He highlighted that the group's ability to adapt operations has allowed it to capture increased demand in regions such as Europe and Southeast Asia. Management remains confident in the group's ability to deliver improved performance throughout 2026. Bazin cited the company's diversified geographic footprint and the quality of its brand portfolio as key drivers for the expected rebound.

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