Warning: "continue" targeting switch is equivalent to "break". Did you mean to use "continue 2"? in /homepages/19/d739280738/htdocs/UKNewsDesk/wp-includes/pomo/plural-forms.php on line 210
UK News Desk

News: Accor bullish as company releases first quarter results

Accor has reported consolidated first-quarter revenue of €987 million for the first three months of financial 2019, up 34.2 per cent.

On a like-for-like basis, revenue was up 8.8 per cent.

Globally, Accor saw RevPAR increase by 1.6 per cent.

However, performance was mixed depending on region: Europe was resilient (up 3.3 per cent), while Asia-Pacific was down slightly (falling 0.6 per cent).

Accor said it anticipates an improvement in RevPAR momentum across the year, expecting growth of three per cent in 2019.

ADVERTISEMENT

Sébastien Bazin, chairman and chief executive of Accor, said: “In a turbulent macroeconomic environment, the group’s first-quarter revenue performance highlights the effectiveness of our transformation and the soundness of our strategy.

“Europe remained strong, while South America continued its robust recovery.

“We achieved sustained business development over the period, in line with our medium-term objectives, and continued to strengthen our pipeline, with an ever-increasing share of luxury hotels, which generate higher fees per room.

“Performing well and growing steadily stronger, the group can tackle the rest of the year with confidence.”

During the first quarter, the company opened 71 hotels, representing 8,300 bedrooms.

The pipeline for future openings is 1,135 properties (200,000 bedrooms).

Globally, Accor has a portfolio of more than 4,600 hotels.

Let’s block ads! (Why?)

Breaking Travel News

Leave a Reply

Your email address will not be published. Required fields are marked *

Powered by WP Robot

Scroll Up