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First-quarter 2019 revenue of €987 million up 34.2% as reported and 8.8% like-for-like

April 26, 2019 Financial No Comments Email Email

Sébastien Bazin, Chairman and Chief Executive Officer, said:

“In a turbulent macroeconomic environment, the Group’s first-quarter revenue performance highlights the effectiveness of our transformation and the soundness of our strategy. http://www.tourismlegal.com.au/Europe remained strong, while South America continued its robust recovery. We achieved sustained business development over the period, in line with our medium-term objectives, and continued to strengthen our pipeline, with an ever-increasing share of luxury hotels, which generate higher fees per room. Performing well and growing steadily stronger, the Group can tackle the rest of the year with confidence.” 

Consolidated first-quarter 2019 revenue totalled €987 million, up 34.2% as reported and 8.8% like-for-like(LFL).

The Group’s RevPAR increased by 1.6%, with mixed performances depending on the region: Europe was resilient (+3.3%), while Asia-Pacific was down slightly (-0.6%). Accor anticipates an improvement of the momentum across the year. The Group confirms a RevPAR growth of around 3% for FY19.

Changes in the scope of consolidation (acquisitions and disposals) had a positive impact of €176 million (+23.9%), thanks in particular to the contributions of Mantra and Mövenpick.

Currency effects had a positive impact of €11 million, attributable chiefly to the depreciation the euro against the US dollar (8%).

During the first quarter, Accor opened 71 hotels, representing 8,300 rooms. At the end of March 2019, theGroup’s pipeline amounted to 1,135 hotels and 200,000 rooms.

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