Photo of the logo of the French hotel operator AccorHotels
Accor reported on Thursday an 8% increase in its turnover in the first quarter, driven by strong momentum in the Asia-Pacific and Middle East markets.
The group, which manages the high-end chains Sofitel and Pullman and low-cost brands like Ibis, recorded a turnover of 1.24 billion euros, up 8% year-on-year.
Accor also announces revenue per available room (RevPAR), a key indicator of the hotel industry’s performance, up 8% year-on-year.
“During this first quarter, marked by the group’s return to the CAC 40, Accor once again recorded solid performances with revenue growth in all regions, particularly in the Middle East and Asia. -Pacific,” said Sébastien Bazin, Chairman and CEO of Accor, in a press release.
The increase is more marked in the premium, midscale and economy (PM&E) division in the Middle East, Africa and Asia-Pacific region, where it increases by 12% thanks to bookings in Saudi Arabia during Ramadan and the recovery tourism in Singapore and Thailand.
Sales in France, which represent 44% of the group’s room turnover, benefited from a growing number of events, Accor added.
Europe’s leading hotel group expects this year’s major international sporting events, such as the Paris Olympics and Euro 2024, to boost its revenue and RevPAR.
Accor, which opened 53 hotels during the period, also confirmed its medium-term forecasts, including annual RevPAR growth of 3 to 4% as well as a return to shareholders of 3 billion euros between 2023 and 2027 .
(Tristan Veyet and Alessandro Parodi in Gdansk, written by Alban Kacher, edited by Kate Entringer)