Accor hopes for strong rebound this summer

Monday, April 26, 2021

Accor has recently reported consolidated first-quarter revenue of €361 million for 2021. The figure is down 53 per cent on a reported basis against last year, and down 57 per cent when compared to pre-COVID first quarter of 2019.

The company informed that RevPAR at the French hotel giant fell by 64 per cent versus quarter one of 2019, reflecting an environment that remains hard hit by the COVID-19 epidemic but significant year-on-year improvements in south Europe, Australia, the Middle East and North America could be noticed.

In total, 87 per cent of Accor hotels are currently open, with more than 4,500 properties in operation. Sebastien Bazin, Chief Executive. Accor said in a statement that there were no surprises in the first-quarter performance. He mentioned that global business trends are improving slightly and the ramp-up of the vaccine rollouts bodes well for a particularly strong rebound. He shared that the group continues to keep a close eye on protecting its cash and cutting costs as it did in 2020 and focuses on the strong recovery expected this summer.

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