Accor posts good Q1 sales results
April 22- French hospitality group Accor reported better than expected first quarter sales of €1.66 billion (Dh8.19bn) because business conditions at its midscale and upscale brands improved. Accor, the fourth largest hotel group in the world, said the trend in April was “rather positive.” Occupancy rates at Accor’s midscale and upscale hotels increased and stabilized at its budget hotels in Europe.
The increase in like-for-like revenue in the first quarter was .6 percent, a significant improvement from a 7.1 percent drop in Q409. Regarding the impact of the volcanic ash disruptions, Accor Chief Executive Gilles Pelisson said “the signals until the [last] weekend were positive” since many stranded passengers were in need of hotel rooms, although, he added, the situation will cause problems if it lasts much longer.
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