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All our efforts are focused on the strong recovery - Accor
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Posted by Hoteliersweb . - Filed in Opinion - 1,692 views
“All our efforts are focused on the strong recovery expected this summer” says Accor CEO
Accor's quarter one report shows that the French hotel group made €361 million in the first three months of the year, a 48 percent drop in the revenue compared to the same period in 2020. During the first quarter, RevPAR fell by 64.3 percent versus Q1 2019, reflecting an environment that remains hard hit by the Covid-19 pandemic. There were, however, significant year-on-year improvements in South Europe, Australia, the Middle East and North America.
Sébastien Bazin, chairman and CEO of Accor, said: “There were no surprises in our first-quarter performance. Global business trends are improving slightly and the ramp-up of the vaccine roll outs bode 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.”
During the first quarter, Accor opened 56 hotels, representing 7,100 rooms. The portfolio stood at 757,000 rooms (5,163 hotels) by the end of March, with a pipeline of 211,000 rooms (1,204 hotels), of which 74 percent are in emerging markets. As of April 19, 2021, 87 percent of the Group’s hotels were open.
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