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AccorHotels has reported mixed results for its UK hotels in the first quarter of the year, with regional properties outperforming their London counterparts.
The company, which recently acquired home share company Onefinestay for £117m, reported that while revenue per available room (RevPAR) decreased by 3% in London, outside of the capital it increased by 5% from January to March 2016.
HotelInvest, the owner and and investor division of the group, reported a like-for-like increase in revenue of 3.2%, while HotelServices – its operating arms – saw like-for-like revenue growth of 18.5%/
The company said growth was driven by the 71.1% occupancy in the quarter, which pushed up average prices by 1.3% and RevPAR by 0.7%.
Worldwide, the company reported a 1.9% increase on like-for-like revenue to €1.16bn (£916m), but total revenue was down 5.2%
The company said business remained “challenging” in france as tourism continues to be impacted by the terrorism attacks from november 2015. Despite this, the country is hosting the Euro 2016 football tournament which should put growth back in positive territory for Accor.
Sébastien Bazin, chairman and CEO, said: “Overall, we got off to a good start in a majority of our regions in 2016.
“Only France and Brazil remain complicated, but the operational teams have been working for the past few months to implement the measures necessary to overcome these difficulties and are steadfastly focused on achieving growth and profits.”
