Acquisitions Add to AccorHotels’ Strong First Quarter Revenues

Fueled by several strategic investments and acquisitions from last year, including the $2.7-billion purchase of Fairmont Raffles Hotels International (FRHI), AccorHotels is "off on a good start" in 2017. That was the message from AccorHotels chief financial officer Jean-Jacques Morin while reporting the Paris-based company's first quarter revenue. AccorHotels' consolidated revenue for the first quarter was $456 million (€425 million), up 35.4 percent from the same period last year. Of that total, new acquisitions and disposals of businesses added $88 million (€82 million) to the company's revenues, thanks in large part to the addition of Raffles, Fairmont, Swissotel, Onefinestay, and John Paul, a concierge service provider. The quarter also marked the first time in two years that the company has had such a strong growth, 5 percent, in revenue per available room (RevPAR). Morin attributed much of that growth to occupancy driven by leisure travel, especially in the European