French hotel giant Accor today reported an 8% increase in first-quarter sales to €1.23 billion, driven in particular by its luxury and lifestyle division, and confirmed its medium-term targets. From January to March, the group, which owns brands such as Ibis, Sofitel, Novotel, Mercure and Pullman, saw its luxury and lifestyle division grow by 19% to €566 million. This division's RevPAR (revenue per room, a key indicator) was up 7% year-on-year, driven mainly by higher occupancy rates. The increase in business also reflects the opening of new venues by Paris Society, a group specializing in event catering.
Accor confirms its targets after a rise in business in Q1 2024
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IN THIS ARTICLE
- Companies
- Accor
Accommodation and Food Services
- Paris Society
Accommodation and Food Services
- Contacts
- Martine Gerow
Chief Finance Officer, Accor