Europe's largest hotel group, Accor, on Thursday raised its EBITDA targets for 2023 for the second time this year, citing good business momentum in all its markets.

The operator of Ibis and Novotel hotels now expects EBITDA of between €955 and €985 million, compared with a previous forecast of €930 to €970 million, already revised upwards in July.

The Group has also revised upwards its forecast for growth in revenue per available room (RevPAR), a key indicator of performance in the hotel industry. It expects this to be just over 20%, compared with a previous target at the upper end of the 15-20% range.

"This is, for Accor, the sixth consecutive quarter of growth since the return to post-pandemic business levels," said CEO Sébastien Bazin in a statement.

"Hotel demand remained very buoyant throughout the third quarter, which saw RevPAR up 15% year-on-year despite a very high comparable base," the group said in a statement.

However, "the first signs of a normalization in business growth are appearing after several quarters of intense recovery", it added.

(Reportage Diana Mandiá ; version française Kate Entringer, édité par Jean-Stéphane Brosse)