Tag: Accors

UPDATE 1-Hotel group Accor’s recovery hit by new curbs, slow leisure travel

 (Adds details, background)
    Oct 22 (Reuters) - Europe's biggest hotel group Accor
          reported a slump in third-quarter revenue on Thursday,
saying the downturn in leisure customers and the introduction of
new COVID-19 restrictions slowed its recovery toward the end of
the period.
     Accor, which runs high-end chains such as Raffles and
Sofitel as well as budget brands such as Ibis, reported revenue
of 329 million euros ($388.91 million) in the July to September
period, down 63.7% compared to a year earlier on a like-for-like
basis.
    Accor said it saw activity improve during the summer holiday
season, especially in Europe, though new curbs pushed the
recovery back down in September and the group expects only China
to swiftly recover to pre-crisis levels.
    The French group, which operates more than 5,000 hotels in
111 countries, said 90% of its hotels were now open, compared
with 81% in August.             
    "The worst of the crisis is now behind us, but our main
markets are still substantially affected by the measures rolled
out to combat the health crisis," Chief Executive Sebastien
Bazin said in a statement.
    A global surge in new COVID-19 infections has forced
countries to introduce new travel curbs, another hit for hotels
that have been running at a reduced capacity since lockdowns
were introduced in Europe in March.
    French Prime Minister Jean Castex said on Thursday the
government would extend a curfew already imposed in Paris and
eight other big cities to 38 more departments, starting from
Friday at midnight.             

 (Reporting by Milla Nissi and Charles Regnier in Gdansk
Editing by Susan Fenton)
  

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