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Accor has reported a 34.2% increase in revenue to €987m (£854m) for the first quarter of 2019, with like-for-like sales (LFL) also up 8.8% during the period.
The hotel brand’s RevPAR increased by 1.6%, with “mixed performances” across its global portfolio. According to the group, Europe remained “resilient”, with a 3.3% increase in RevPar, while Asia-Pacific was down slightly at -20.6%. Accor anticipates an “improvement of the momentum across the year”.
Additionally, the brand told Hotel Owner that changes in the scope of consolidation (acquisitions and disposals) had a positive impact of €176m (+23.9%), “thanks in particular to the contributions of Mantra and Mövenpick”.
During the first quarter, Accor opened 71 hotels, representing 8,300 rooms. At the end of March 2019, the group’s pipeline amounted to 1,135 hotels and 200,000 rooms.
Sébastien Bazin, chairman and CEO, 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.”
