Accor's Solid First-Quarter Growth in 2024 Fueled by Global Demand

Accor reported a strong start to 2024, with first-quarter revenues reaching €1,236 million, marking an 8% like-for-like increase compared to the same period in 2023. This performance was driven by a robust like-for-like increase in RevPAR (revenue per available room) across all hotel segments and regions, with significant gains in the Middle East, Africa, and Asia-Pacific regions.

The company disclosed a net growth in its hotel portfolio, adding 53 new hotels, which translates to over 8,000 rooms, reflecting a 3.1% increase over the past 12 months. The Premium, Midscale, and Economy divisions enjoyed a 6% growth in revenue, while the Luxury & Lifestyle segments saw a substantial 12% increase.

Despite global economic uncertainties, the group's strategic initiatives and operational efficiency have propelled positive results across various metrics. Sébastien Bazin, Chairman and CEO, emphasized the company's ability to maintain high standards while reinforcing operational flexibility and financial discipline, aligned with their long-term objectives.