For the first quarter of 2024, the Group reported sales of 1,236 million euros, up 8% at constant scope of consolidation and exchange rates (like-for-like) compared with the first quarter of 2023. RevPAR was up 8% at ccp.
This increase breaks down into a 6% rise for the Premium, Midscale & Economy division and a 12% rise for the Luxury & Lifestyle division.
Premium, Midscale & Economy generated sales of 690 million euros, up 6% at ccp on the first quarter 2023.
Management & Franchise (M&F) posted sales of 192 million euros, up 14% L/L.
Owner Services sales, which include Sales, Marketing, Distribution and Loyalty activities, as well as shared services and reimbursements incurred on behalf of hotels, totaled 252 million euros, down -1% L/L.
The Group reiterates its medium-term outlook. It is targeting annual RevPAR growth of between 3% and 4% (CAGR 2023-27), average annual network growth of between 3% and 5% (CAGR 2023-27), M&F sales growth of between 6% and 10% (CAGR 2023-27) and EBITDA growth of between 9% and 12% (CAGR 2023-27).
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Accor is the No. 1 European hotel group. Net sales break down by activity as follows:
- operating hotels under management contract (74.7%; HotelServices);
- owned and leased hotel management (25.3%). In addition, the group offers a business of renting luxury private residences, as well as providing digital services to independent hoteliers, concierge services, etc.
At the end of 2023, the group operates a network of 5,584 hotels (821,518 rooms) distributed primerly between luxury and top-range hotels (978 hotels; Raffles, Fairmont, Sofitel, Pullman, MGallery, Swissotel, Grand Mercure, Mövenpick, The Sebel and Rixos names), mid-range hotels (1,732; Novotel, Novotel Suites, Mercure, adagio, Mama Shlter and Tribe), and economy hotels (2,826; ibis, ibis Styles, ibis budget, adagio access, hotelF1, Formule 1, Jo&Joe, Breakfree and Greet).