Accor Q1 Revenues Up 34%

(RTTNews) - French hotel group Accor (ACRFY.PK, ACRFF.PK) said its consolidated first-quarter 2019 revenues totaled 987 million euros, up 34.2% from 735 million euros last year. On a like-for-like basis, revenues were up 8.8%.

The Group's RevPAR increased by 1.6%, with mixed performances depending on the region.

CEO Sébastien Bazin 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. 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."