(MENAFN) Accor Group, Europe's leading hotel conglomerate, revealed a notable uptick in first-quarter revenues, showcasing an eight percent increase. This surge was particularly buoyed by robust sales performance across the Middle East, Africa, and Asia-Pacific regions. Brands such as Ibis and Novotel, under Accor's umbrella, contributed to this positive trajectory. Comparing figures with the same period in 2023, the company disclosed a rise in revenue from 1.14 billion euros to 1.24 billion euros in the initial three months of the year.
The projection for a full recovery in global tourism by 2024, as forecasted by the United Nations World Tourism Organization earlier in January, appears to align with Accor's upward trajectory. The anticipation suggests a two percent increase in international tourist numbers compared to pre-pandemic levels in 2019.
A key performance indicator in the hospitality sector, Accor's revenue per available room, experienced a significant increase of 7.6 percent, reaching 66 euros in the first quarter. Notably, this growth trend is more pronounced in medium-sized, upscale, and budget hotels within the Middle East, Africa, and Asia-Pacific regions. Here, the surge reached an impressive 12 percent, attributed to heightened reservations during the month of Ramadan in Saudi Arabia and the resurgence of tourism in countries such as Singapore and Thailand.
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