Accor posts positive Q1 results

The lobby at the ibis Budget Brisbane Airport
The lobby at the ibis Budget Brisbane Airport

Hotel giant Accor has seen its results improve in the first quarter as more hotels open up under the firm.

The company’s RevPAR has gone up 4.3% to EUR50 (US$68) year-on-year, with its hotels in the Mediterranean, Middle East and Africa seeing the largest increases.

Its figures come after the group opened 4, 449 new rooms during the quarter with 50% in emerging markets.

Its operator and franchiser model (HotelServices) saw a 4.7% rise in revenue to US$361 million against the owner and investor side (HotelInvest) which saw a 1.2% boost in revenues to US$3.4 billion.

“Accor’s performance continued to improve in first-quarter 2014, despite a tough French market. HotelServices confirmed its high potential and is expanding quickly in fast growing geographies, while HotelInvest consolidated its position as the leading hotel investor in Europe, benefiting in particular from strong dynamics in the United Kingdom and Germany,” said Sebastien Bazin, chairman and CEO of Accor.

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