Accor Sa (ACRFF) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.897 Welcome to the Accor Q3 2025 Revenue Presentation. 00:00:04.897 -- 00:00:08.882 Today's conference will be hosted by Martin Gero, Group CFO. 00:00:08.882 -- 00:00:13.007 For the first part of the conference, the participants will be on listen-only mode. 00:00:13.007 -- 00:00:17.932 During the questions and answers session, participants are able to ask questions by dialing 00:00:17.932 -- 00:00:23.419 pound key 5 on their telephone keypad. Now I will hand the conference over to the speakers. 00:00:23.419 -- 00:00:25.900 Please go ahead. 00:00:26.153 -- 00:00:30.480 Thank you and good evening, everyone. And thank you for joining ACOR's third quarter 00:00:30.480 -- 00:00:36.348 trading update call. And without further ado, I will start with the key highlights 00:00:36.348 -- 00:00:39.293 on slide three of the presentation. 00:00:39.293 -- 00:00:44.501 In an environment which continues to evolve, we have made solid strides since our last 00:00:44.501 -- 00:00:49.829 call towards, one, accelerating the network growth, and two, mitigating the 00:00:49.829 -- 00:00:54.836 impact of FX, which leads us to upgrade our EBITDA guidance by two 00:00:54.836 -- 00:00:56.242 points. 00:00:56.242 -- 00:01:01.370 Starting with REF PAR, despite a challenging calm base in the ENA region 00:01:01.370 -- 00:01:07.020 in the month of July and August, Q3 REF PAR like-for-like remained positive at plus 0.8%, 00:01:07.020 -- 00:01:11.547 equally driven by price and occupancy. 00:01:11.547 -- 00:01:16.595 Softness in France due to the Olympic baseline and Germany was more than offset by 00:01:16.595 -- 00:01:22.110 solid growth in other geographies. And we were pleased to see the rebound in September 00:01:22.110 -- 00:01:27.156 with a 3% REFBA growth, whic...