Growth in Europe and Asia pushes AccorHotels' like-for-like sales up 9.5%

AccorHotels, Europe’s biggest hotel group, remains upbeat about its 2018 prospects after it reported a 9.5% rise in first-quarter revenue.

The French multinational group said that the positive results were driven by strong growth in Europe and Asia. 

Group RevPAR was up by 5.3%, with a 4.6% increase in Europe and 5.3% rise in the Asia-Pacific region. 

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AccorHotel also said that its acquisitions of businesses including Gekko, Mantis and ResDiary helped to consolidate first-quarter revenue of EU€633mn for the period. 

Sébastien Bazin, chairman and chief executive officer of AccorHotels, said: "In line with the good trends of 2017, business remained strong in the first quarter in the vast majority of regions. 

“Europe and Asia, our two key markets, continue to benefit from a buoyant environment,” she added. 

AccorHotels’ first-quarter results may also be attributed to the firm's expansion efforts, as the firm developed 61 hotels and nearly 10,000 rooms during the period, bringing its total pipeline to 870 hotels and 15,000 rooms. 

However, the French firm did report that fluctuations in the Euro’s value, particularly against the US dollar, had a negative impact of €63mn.