First quarter results from hotel group Accor show clearly how
different regions and different tiers of hotel are coping during the pandemic.
The figures reveal that its properties in Asia Pacific have an
average occupancy of 42.3 per cent in the first quarter, down 27.3 percentage
points on the same period in 2019. By contrast, average occupancy in its northern
European hotels sits at just 15.5 per cent, 50.3 percentage points lower than
in 2019. The figure in the Americas sits at 24.8 per cent, down 34.8 per cent
on 2019.
The hotel group’s results also show a trend away from luxury and
upscale properties in some regions. In southern Europe, the group’s economy
hotels, such as ibis, have an average occupancy of 29.5 per cent, compared with 14.7 per cent for
luxury and upscale properties, including Sofitel, and 22.3 per cent for midscale properties, such as Novotel. In the
Americas, average occupancy for economy properties stands at 28.1 per cent
against 19.8 per cent for luxury and upscale properties.
Accor’s Q1 figures also show that RevPar has been hard hit, down
64.3 per cent on average across all its hotels in all regions. Average room
rate at the group is down to 66 euro, 21.2 per cent lower than in 2019.
The company said that first quarter revenues stood at €361
million, 48 per cent lower than in 2020 on a like-for-like basis. It reported
that 87 per cent of the group’s hotels have reopened.
Sébastien Bazin, Accor's chairman and chief executive,
said: “There were no surprises in our first-quarter
performance. Global business trends are improving slightly and the ramp-up of
the vaccine rollouts bodes well for a particularly strong rebound. As it did in
2020, the group continues to keep a close eye on protecting its cash and
cutting costs. Today, all our efforts are focused on the strong recovery
expected this summer.”