(CercleFinance.com) – For the first quarter of 2024, the Group recorded revenue of 1,236 million euros, an increase of 8% at constant scope and exchange rates (like for like) compared to the first quarter of 2023. The RevPAR is up 8% at PCC.
This increase includes an increase of 6% for the Premium, Mid-Range and Economy divisions and 12% for the Luxury & Lifestyle division.
Premium, Mid-Range & Economy generated revenue of €690 million, up 6% like-for-like compared to the first quarter of 2023.
The Management & Franchise (M&F) activity recorded a turnover of 192 million euros, up 14% like for like.
Revenue from Owner Services, which includes Sales, Marketing, Distribution and Loyalty activities, as well as shared services and reimbursements incurred on behalf of hotels, amounted to €252 million, down -1% like for like.
The Group reiterates its medium-term outlook. It targets annual growth in RevPAR between 3% and 4% (CAGR 2023-27), average annual network growth between 3% and 5% (CAGR 2023-27), growth in M&F turnover between 6% and 10% (CAGR 2023-27) and EBITDA growth between 9% and 12% (CAGR 2023-27).
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