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By Donna M. Airoldi, Business Travel News
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A guestroom at the Berkeley Park Hotel in Miami, part of Accor s MGallery Hotel Collection.
First-quarter hotel earnings season kicked off with Accor reporting $436.8 million in revenue, which is down year over year by 48% on a like-for-like basis, and down 57% when compared with the first quarter of 2019.
Consolidated revenue per available room was down 64.3% on a like-for-like basis compared with the first quarter of 2019, which reflects the ongoing effects of the Covid-19 pandemic, particularly the emergence of the U.K. variant, according to the company. Accor s occupancy rate of 29.9% declined 35.5 percentage points from two years ago. Average daily rate fell 21.2% from 2019 to $80.
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First-quarter hotel earnings season kicked off with Accor reporting €361 million in revenue, which is down year over year by 48 percent on a like-for-like basis, and down 57 percent when compared with the first quarter of 2019.
Consolidated revenue per available room was down 64.3 percent on a like-for-like basis compared with the first quarter of 2019, which reflects the ongoing effects of the Covid-19 pandemic, particularly the emergence of the U.K. variant, according to the company. Accor s occupancy rate of 29.9 percent declined 35.5 percentage points from two years ago. Average daily rate fell 21.2 percent from 2019 to €66. There were no surprises in our first-quarter performance, said Accor chairman and CEO Sébastien Bazin in a statement. Global business trends are improving slightly, and the ramp-up of the vaccine rollouts bodes well for a particularly strong rebound. … Today, all our efforts are focused on the strong recovery expected thi