(CercleFinance.com) – The Group recorded revenue of 701 million euros for the first quarter of 2022, up 85% at constant scope and exchange rates (lcc) compared to the first quarter of 2021.
HotelServices, which includes Management & Franchise (M&F) royalties and Owner Services, generated revenue of €507 million, up 105% LFL compared to the first quarter of 2021 (-25% LFL compared to the first quarter of 2019).
During the first quarter of 2022, the Group’s RevPAR more than doubled (+108% in published data) compared to the first quarter of 2021 but still shows a decrease of -25% compared to the first quarter of 2019.
Revenue from ‘Hotel Assets and Other’ was up 52% LFL compared to the first quarter of 2021 (-19% LFL compared to fiscal year 2019).
“For the 2022 financial year, net network growth is expected at 3.5%, as announced during the publication of the 2021 annual results, with an acceleration of openings expected from the second quarter,” indicates the group.
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