Corrects revenue growth figures for the Upscale and Midscale segment in the fourth para:
French hotel group Accor SA (ACRFF.PK, ACRFY.PK) reported that its first-quarter revenues fell by 1.2% to 1.227 billion euros from 1.242 billion euros in the same quarter last year. On a like-for-like basis, first-quarter revenues came down by 0.1%.
Meanwhile, revenues from Hotels decreased by 2.0% to 1.193 billion euros from 1.218 billion euros in the year ago quarter.
The company in a statement added that Changes in the scope of consolidation due to the asset disposal strategy, reduced revenue by 51 million euros and growth by 4.1%.
Further, revenue in the Upscale and Midscale segment rose by 0.7% like-for-like and declined by 1.6% as reported in the first-quarter.
Also, revenue in the Economy segment fell by 1.8% like-for-like and 2.7% as reported in the first quarter. The decline reflected the economic environment in certain regions, like Southern Europe, said Accor.
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