AccorHotels commits to ‘fact-paced transformation’
AccorHotels has committed to continuing its ‘fast-paced transformation’ and to expansion through ‘targeted acquisitions’.
It made the commitment as it reported a 9.5% rise in revenues for the first quarter.
Revenue reached €633 million (£551.5m) in the first three months, up 9.5% on a like for like basis and 0.6% as reported.
The hotel group took a €63 million hit due to currency fluctuations.
Revenue per available room increased by 5.3%.
Chairman and CEO Sabastien Bazin said: "In line with the good trends of 2017, business remained strong in the first quarter in the vast majority of regions. Europe and Asia, our two key markets, continue to benefit from a buoyant environment.
"Our development continues at a sustained pace. At the same time, our new businesses are taking shape and gradually gaining momentum.
"To complement this, the group is pursuing its strategy of growth and consolidation of its ecosystem through targeted acquisitions.”
"Since the beginning of the year, this has resulted in Gekko, Mantis and ResDiary joining the world of AccorHotels. In short, the group is continuing its fast-paced transformation to build an increasingly comprehensive offering to serve its customers."
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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