This report does not constitute a rating action. PARIS (S&P Global Ratings) Nov. 2, 2026-- Accor S.A. (BBB-/Stable/A-3) released its third quarter 2026 trading update on Oct. 22, which showed a resilient performance. The group reported revenue per available room (RevPAR) growth of 4.9% in the third quarter, supported by a solid performance in the Americas, North Africa, Asia-Pacific, and Europe, offsetting the effect of the Middle East conflict. The United Arab Emirates'RevPAR declined by approximately 20% compared with the third quarter of 2025 due to the Middle East conflict, while Saudi Arabia, Egypt, and Turkiye reported a solid performance. The luxury and lifestyle division posted an 8.3% increase in RevPAR, while the premium, midscale, and economy (PME) segment