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

By Laura Mullan
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...

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. 

SEE ALSO:

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. 
 

Share

Featured Articles

Starbucks on Carbon Neutral Coffee Journey

Starbucks is reducing its carbon and water footprints and delivering bold solutions, says Michelle Burns, EVP Global Coffee, Social Impact & Sustainability

Unilever: Gen Z Tastes Driving Culinary Innovation

Unilever Food Solutions Future Menu Trends reports shows adventurous Gen Z tastes are shaping menus and that plant protein use is on the rise

Nestlé & Cargill Combine to Cut Cocoa Carbon Emissions

Nestlé has joined forces with key supplier Cargill to regenerate land around cocoa farms and cut carbon emissions in its su

Unilever to Sell off Ice Cream, With Loss of 7.5K Jobs

Food

Nestlé Cuts 2023 GHGs by 13.5% as it Targets Supply Chain

Food

PepsiCo boost for Hispanic-owned Food & Beverage Start-ups

Food