Plus   Neg

Accor Q1 Revenue Up 7.4% On Like-for-like Basis

French hotel group Accor (ACRFY.PK,ACRFF.PK) said that consolidated first-quarter 2017 revenue totaled 425 million euros, up 35.4% as reported and 7.4% on a like-for-like basis.

Revenue derived from the hotel assets held by the Group, mainly in Central Europe and under lease in Brazil, also grew in first-quarter 2017, by 5.8%.

The company noted that changes in the scope of consolidation (acquisitions and disposals) made a positive contribution of 82 million euros (+26%), thanks in particular to the contributions of Raffles, Fairmont, Swissotel, onefinestay and John Paul.

Currency effects had a positive impact of 6 million euros, attributable primarily to the Brazilian real (+8.2 million euros) and the Australian dollar (+4.3 million euros).

In France & Switzerland, revenue was down 0.6% on a like-for-like basis. The decline was attributable in particular to the loss of one business day and to the conversion of around 60 Grape Hospitality hotels into franchised hotels in June 2016. However, RevPAR was up sharply (+5.0%), driven by a 2.7 point increase in the occupancy rate combined with stable prices.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amity Packing Company Inc. is recalling around 2,020 pounds of raw ground beef products for possible plastic presence, the U.S. Department of Agriculture's Food Safety and Inspection Service stated. The agency said the products may be contaminated with extraneous materials, specifically clear, thin pliable plastic. The recall was initiated after Pre Brands LLC received two consumer complaints. Golden Pearl Trading Corp. is recalling certain ready-to-eat or RTE imported Siluriformes products that were produced without benefit of import inspection, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recall involves around 12,054 pounds of Siluriformes products that were not presented for import re-inspection into the United States. The U.S. Food and Drug Administration has granted accelerated approval to Tazverik for the treatment of adults and pediatric patients aged 16 years and older with metastatic or locally advanced epithelioid sarcoma not eligible for complete resection. Epithelioid sarcoma is a rare sub-type of soft...
Follow RTT