This compares to Q2’s figures of 1,262 hotels of collectively around 217,000 rooms under development, which itself was a quarter-on-quarter rise of 1%.
Sectoral structure
In terms of sectoral composition, Q3’s pipeline totals break down as 81% premium, midscale and economy projects, equating to 1,025 sites, or 78% of the key count, which numbers around 171,000.
The remaining 19%/248 sites are for the luxury and lifestyle sectors, while the other 22% of keys, that’s 47,000 in these segments, comprises 24,000 luxury and 23,000 lifestyle rooms.
Geographical analysis
Accor only provided Q3 geographical statistics for its premium, midscale and economy pipeline.
Out of these 171,000 upcoming keys, the Asia Pacific, Middle East and sub-Saharan Africa region leads the way on around 113,000 rooms. Europe and north Africa have less than half of that amount, with 49,000 keys expected, while the Americas trails even further behind with just 10,000 rooms on the slate.
Latest openings
In Q3 2023, Accor opened 73 hotels, altogether around 9,200 rooms, and has thus achieved net unit growth of 3% over the last 12 months.
For the whole of 2023, the group confirmed its forecast of net unit growth in the network between 2% and 3%.
Portfolio snapshot
At end-September 2023, the group had a hotel portfolio of 812,425 rooms within 5,537 hotels.
In terms of segments, premium, midscale and economy sites comprise the vast majority of Accor’s global footprint, with 5,020 operating properties containing 698,537 keys. This is as against luxury and lifestyle’s 517 hotels/113,888 keys. The latter breaks down as 373 luxury sites of 82,546 rooms and 144 lifestyle hotels of 31,342 keys collectively.
Current regions
Regionally, Accor’s current figures are once again only available for the premium, midscale and economy segment. Here, Europe and north Africa are on top, reaching 2,964 sites of 328,358 keys.
The Asia Pacific, Middle East and sub-Saharan Africa area is next, with 1,605 properties encompassing 297,219 rooms, while the Americas are once again the lowest total, on 451 hotels of 72,960 keys.
Market momentum
Sébastien Bazin, chairman and CEO of Accor, said: “The group’s strong performance during the quarter illustrates once again the strength of business momentum in all of our markets, notably in Asia, and for the brands in our two segments: premium, midscale and economy, on the one hand, and luxury and lifestyle on the other.
“For Accor, this is the sixth consecutive quarter of growth since the return to post-pandemic business levels.”
