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Accor: reiterates MT outlook

( - Accor has reported Q1 2024 sales of E1,236m, up 8% LFL and y-o-y.
RevPAR was up 8% LFL.

This increase breaks down into a 6% rise for the Premium, Midscale & Economy division and a 12% rise for the Luxury & Lifestyle division.

Premium, Midscale & Economy generated sales of E690m, up 6% LFL on Q1 2023.

Management & Franchise (M&F) posted sales of E192m, up 14% LFL.

Owner Services sales, which include Sales, Marketing, Distribution and Loyalty activities, as well as shared services and reimbursements incurred on behalf of hotels, totaled E252m, down -1% LFL.

The group reiterates its medium-term outlook. It is targeting annual RevPAR growth of between 3% and 4% (CAGR 2023-27), average annual network growth of between 3% and 5% (CAGR 2023-27), M&F sales growth of between 6% and 10% (CAGR 2023-27) and EBITDA growth of between 9% and 12% (CAGR 2023-27).

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