EVRY (dpa-AFX) - Hospitality group Accor (ACRFY.PK, ACRFF.PK) announced an increase of 9.2 percent in its revenue for first quarter.
Revenue rose to 1.35 billion euros from 1.24 billion euros last year. The growth breaks down as a 1.8% increase for the Premium, Midscale and Economy division and a 17.9% increase for the Luxury & Lifestyle division.
The Premium, Midscale and Economy (PM&E) division posted a 3.4% increase in RevPAR compared with the first quarter of 2024, driven 90% by prices and 10% by the occupancy rate.
The Luxury & Lifestyle (L&L) division posted RevPAR up 8.3% compared with the first quarter of 2024, driven by prices and occupancy rates, which contributed two-thirds and one-third, respectively.
Sébastien Bazin, Chairman and CEO of Accor, said: 'Accor has once again posted dynamic growth in its business this quarter, driven by continued strong demand. Our diversified geographic positioning and leadership in the most promising markets, combined with the strength of our attractive and distinctive brands, enable us to continue to grow in a more volatile geopolitical and economic environment. In this context, while maintaining strong operational discipline, we are pursuing our strategy of development and value creation and are confident in our ability to continue improving our performance.'
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