Accor Q1 Revenue up 3.1%

22nd April 2010 (Last Updated April 22nd, 2010 18:30)

French hotel chain Accor has reported a 3.1% rise in revenue in the first-quarter of 2010. The rise has been attributed to an increase in trading at its midscale and upscale hotels in Europe, which showed signs of improvement in the hotel occupancy rates. Accor quarterly

French hotel chain Accor has reported a 3.1% rise in revenue in the first-quarter of 2010.

The rise has been attributed to an increase in trading at its midscale and upscale hotels in Europe, which showed signs of improvement in the hotel occupancy rates.

Accor quarterly sales stood at €1.67bn ($2.24bn).

The rise in like-for-like revenue was 0.6% compared with the 7.1% fall in the fourth quarter 2009.

Hotels revenues rose 1.6% on a like-for-like basis despite a 7.5% drop in economy hotels in the USA.

Prepaid services revenue fell by 0.4% on like-for-like, reflecting a 3.8% increase in operating revenue and a 29.5% decline in financial revenue.