REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsOct 26 (Reuters) - Europe's biggest hotel group Accor on Thursday raised its core profit target for 2023 for the second time this year, citing positive business momentum in all of its markets after another strong post-pandemic summer.
The sector continues to benefit from the leisure travel boom despite inflation and the resurgence of recession fears in Europe.
It was also boosted by the Rugby World Cup, particularly in cities where hotel supply is more limited, such as Lille and Nantes, Accor said.
The group now expects core earnings (EBITDA) of between 955 million euros and 985 million euros for 2023, up from a previous forecast of between 930 million euros and 970 million euros, which was already upgraded in July.
It also raised its forecast for growth in RevPAR in 2023 and now expects it to slightly exceed 20%.
Persons:
Sarah Meyssonnier, Novotel, Accor, Martine Gerow, Diana Mandiá, Susan Fenton, David Holmes, Sharon Singleton
Organizations:
REUTERS, Rugby, Lille, Thomson
Locations:
Issy, Paris, France, Europe, That's, Nantes, Jerusalem, Tel Aviv, RevPAR