EVRY (dpa-AFX) - French hotel group Accor (ACRFY.PK, ACRFF.PK) said its consolidated first-quarter 2021 revenues totaled 361 million euros, down 53% from 768 million euros last year. On a like-for-like basis, revenues were dropped 48%.
Hotel services revenues tanked 57% to 234 million euros from 540 million euros last year, while Hotel Assets & Other slipped 46% to 129 million euros from 239 million euros last year.
RevPAR fell by 64.3%, reflecting an environment that remains hard hit by the Covid-19 epidemic. There were, however, significant year-on-year improvements in South Europe, Australia, the Middle East and North America.
CEO Sebastien Bazin said, 'There were no surprises in our first-quarter performance. Global business trends are improving slightly and the ramp-up of the vaccine rollouts bodes well for a particularly strong rebound. As it did in 2020, the Group continues to keep a close eye on protecting its cash and cutting costs. Today, all our efforts are focused on the strong recovery expected this summer.
As of April 19, 2021, 87% of the Group's hotels were open, i.e., more than 4,500 units.
Copyright RTT News/dpa-AFX
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