Accor Builds Caution Into Outlook Over France Unrest and Middle East

Photo Credit: In Mont Ventoux in Provence, southern France, Château de Mazan is a hotel that belongs to Accor's network. Accor Accor is bracing for a bumpy end to the year because of uncertainty in two of its key markets. The Paris-based group has built "some prudence in France given the events" into its full-year outlook, Martine Gerow, group chief financial officer, said on a Thursday earnings call, referring to the French riots. Gerow is also cautious about a potentially steeper decline in the Middle East amid the U.S.-Iran war and the Saudi-Houthi war. France is Accor's largest market at 23% of global room revenue, with the Paris region accounting for about 12%. The Middle East accounts for about 11%, with the United Arab Emirates at roughly 4% and Saudi Arabia at about 5%. Accor's implied guidance for the fourth quarter looked cautious to some analysts. The company said Thursday it no