Accor: Q1 LFL sales growth reaches +8.8%
(CercleFinance.com) - Accor Group's Q1 2019 sales reached 987 million euros, up 34.
2% as reported and up 8.8% LFL.
Group RevPAR rose by 1.6%, with performances varying across different regions, with Europe showing resilience (+3.3%), while Asia Pacific experienced a slight decline (-0.6%). Accor says that it expects growth this year and has confirmed its FY RevPAR growth target of around 3%.
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. 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.”
Copyright (c) 2019 CercleFinance.com. All rights reserved.
2% as reported and up 8.8% LFL.
Group RevPAR rose by 1.6%, with performances varying across different regions, with Europe showing resilience (+3.3%), while Asia Pacific experienced a slight decline (-0.6%). Accor says that it expects growth this year and has confirmed its FY RevPAR growth target of around 3%.
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. 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.”
Copyright (c) 2019 CercleFinance.com. All rights reserved.