Hotel group Accor's quarterly revenue jumps as demand picks up
Oct 27 (Reuters) - Europe's biggest hotel group Accor on Wednesday reported a jump in third-quarter revenue thanks to a strong pick-up in demand.
Accor, which operates 5,200 hotels in 110 countries, reported revenue of 589 million euros ($684 million) for July to September, up from 329 million euros in the same period last year.
"Our business was very strong this summer in Europe, the Middle East and the Americas, particularly for our leisure destinations", Chief Executive Officer Sebastien Bazin said in a statement, adding these trends were expected to persist until the end of the year.
The group's revenue per available room (RevPAR), a key gauge of performance for the hotel industry, dropped 37% compared to the third quarter of 2019.
($1 = 0.8611 euros) (Reporting by Anait Miridzhanian Editing by Mark Potter)
