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Strong business recovery for the Accor group in the first quarter

Strong business recovery for the Accor group in the first quarter

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Accor, the French hotel giant, is reporting a strong recovery on Thursday, reporting a near doubling of revenue in the first quarter of 2022 compared to 2021.

 

Accor nearly doubled its revenue in the first quarter of 2022, compared to the covid-19-tainted year of 2021. Indeed, it amounted to €701 million, up 94%. However, it was down 23% compared to the first quarter of 2019, before the Covid-19 pandemic, on a like-for-like basis, a statement said. In the first quarter of 2021, sales were only €361 million.

 

This recovery is the result of the sustained rebound in domestic business and leisure customers, and the reopening of borders leading to an accelerated recovery in international customers,” the group said. It “is accompanied by a strong increase in prices, now above the 2019 level for four months at the group level, driven by demand and accentuated by inflation.

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Featured photo : © Accor

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