AccorHotels posts strong revenue growth in Q1
Revenue at its recently expanding business division saw revenue rose to £27m, up from £11.3m the previous year
AccorHotels has posted strong revenue growth for the first quarter of the year with a 9.7% like-for-like increase to £551m.
The increase is attributed to the company’s acquisitions of Resdiary, Mantis and Gekko in the past year.
AccorHotels’ HotelServices, which operates 4,304 hotels and offers 619,058 rooms under, reported a 7.7% like-for-like increase in revenue to £464m.
The group’s RevPAR grew by 5.3%, with good performances notably in Europe (4.6%) and Asia-Pacific (5.3%). Demand accounted for 61% of the increase, and average prices for 39%.
Revenue at its recently expanding business division saw revenue rose to £27m, up from £11.3m the previous year, an 14.5% like-for-like increase.
During the first quarter, AccorHotels opened 61 new hotels, representing nearly 10,000 rooms. At the end of March 2018, the group’s pipeline comprised of 870 hotels and 153,000 rooms.
Sébastien Bazin, chairman and chief executive officer of AccorHotels, said: “In line with the good trends of 2017, business remained strong in the first quarter in the vast majority of regions. Europe and Asia, our two key markets, continue to benefit from a buoyant environment. Our development continues at a sustained pace. At the same time, our new businesses are taking shape and gradually gaining momentum.”
He added: “To complement this, the group is pursuing its strategy of growth and consolidation of its ecosystem through targeted acquisitions. Since the beginning of the year, this has resulted in Gekko, Mantis and ResDiary joining the world of AccorHotels. In short, the group is continuing its fast-paced transformation to build an increasingly comprehensive offering to serve its customers.”
