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Consolidated first-quarter 2017 revenue totalled €425 million, up 35.4% as reported and 7.4% on a like-for-like basis. Changes in the scope of consolidation (acquisitions and disposals) made a positive contribution of €82 million (+26%). Currency effects had a positive impact of €6 million, attributable primarily to the Brazilian real (+€8.2 million) and the Australian dollar (+€4.3 million).
Speaking on the occasion, Sebastien Bazin, Chairman and CEO, AccorHotels, said, “The trends observed in the first quarter in the vast majority of regions reflect a favourable environment for the hotel industry. This is particularly the case in our three main markets, France, Europe and the Asia-Pacific region. At the same time, the Group further entrenched its growth, its move into new businesses and its leadership in the luxury segment through numerous value-creating acquisitions, namely Rixos and BHG in hotels and Availpro, Potel & Chabot and VeryChic in new businesses. Lastly, the process of transforming AccorInvest into a subsidiary is underway; AccorHotels is therefore perfectly in line with our 2017 objectives.”
With strong growth for HotelServices (+5.6%) and the new businesses (concierge services, luxury home rentals and digital services for independent hotel operators, +10.4%), the Group recorded revenue growth of 7.4% at constant scope of consolidation and exchange rates (LFL) in the first quarter of 2017, despite the loss of one day of business compared with the first quarter of 2016.
HotelServices, which operated 4,158 hotels (586,578 rooms) under franchise agreements and management contracts at the end of March 2017, reported a 34% increase in revenue as reported to €394 million.
AccorHotels benefits from the well-balanced spread of Fairmont Hotels across the United States and Canada and a strong presence in U.S. cities less exposed to international customers. As a result, regional RevPAR grew by 3.6%. The 0.1% like-for-like increase in revenue does not include Fairmont; it only takes into account the hotels included in the scope of consolidation in Q1 2016, which are more exposed to markets such as New York and Miami.
During the first quarter, AccorHotels opened 35 hotels, representing more than 7,000 rooms. At the end of March 2017, the Group’s pipeline comprised 951 hotels and 176,000 rooms, of which 82% in emerging markets and 45% in the Asia-Pacific region. In the three months to end-March 2017, revenue from the new businesses (concierge services, luxury home rentals and digital services for independent hotels) amounted to €13 million, compared with €5 million in first-quarter 2016.
 made a positive contribution of €82 million (+26%). Currency effects had a positive impact… "Pin It")
Source: travelnewsdigest.in