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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Accor
Accor (AC) investor relations material
Accor Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 TU earnings summary22 Oct, 2026
Executive summary
Q3 RevPAR rose 4.9%, or 5.6% excluding the Middle East, as activity rebounded; FY26 recurring EBITDA guidance was raised.
Q3 revenue reached €1,503m, up 7.7% at constant currency; Luxury & Lifestyle and a favorable events calendar supported growth.
Financial highlights
Q3 revenue was €1,503m, up 9.8% reported and 7.7% at constant currency; constant-currency, constant-scope growth was 8.6%.
Currency effects added €28m, mainly from the Australian dollar and Brazilian real; scope effects reduced revenue by €11m, mainly due to Paris Society disposals.
Management & Franchise revenue rose 5.5% at constant currency to €378m; Hotel Assets & Other revenue increased 8.7% to €430m, and SMDL revenue rose 0.9% to €362m.
Reimbursed costs revenue was €351m, up 16.3% at constant currency, reflecting North American payroll costs tied to FIFA World Cup activity and hotel openings and reopenings.
Outlook and guidance
FY26 RevPAR growth is expected at the high end of the 2%–2.5% range, conditional on no deterioration in UAE activity in Q4 versus Q3.
FY26 recurring EBITDA guidance increased to €1,270m–€1,285m, including a €10m negative FX impact based on a Q4 euro-US dollar rate of 1.14.
FY26 net unit growth is forecast at 3.0%–3.5%, revised from around 3.5%; China mid-scale closures are driving the reduction.
Q4 guidance assumes Middle East RevPAR down ~12% and UAE activity broadly unchanged from Q3; Q4 comparisons are tougher after 7% RevPAR growth last year.
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Latest events from Accor
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- Record revenue and EBITDA growth in 2024, with strong shareholder returns and pipeline momentum.ACH2 2024
Next Accor earnings date
H2 202618 Feb, 2027
Accor
Next Accor earnings date
H2 202618 Feb, 2027
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Frequently asked questions
Accor SA is a leading global hospitality company that operates a wide portfolio of hotels and accommodations. The company manages and franchises a broad range of brands, from luxury to economy, including well-known names such as Sofitel, Pullman, Novotel, Mercure, and Ibis. Accor provides services across the hospitality spectrum, including hotel management, food and beverage services, and customer loyalty programs. The company is headquartered in Issy-les-Moulineaux, France, and its shares are listed on the Euronext Paris.