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French hotel group Accor expects strong summer after weak Q1

April 21 (Reuters) - Europe’s biggest hotel group Accor expects a strong recovery this summer with the rollout of COVID-19 vaccines after reporting another fall in revenue in the first quarter, dragged down by North Europe due to the extension of strict lockdowns.

The group, which runs high-end chains Sofitel and Pullman, as well as budget ones such as Ibis, added it saw year-on-year improvements in South Europe, Australia, the Middle East and North America, although revenue was still down.

“Global business trends are improving slightly and the ramp-up of the vaccine rollouts bodes well for a particularly strong rebound,” Chief Executive Sebastien Bazin said in a statement.

First-quarter revenue fell 48% on a like-for-like basis to 361 million euros ($433.78 million).

$1 = 0.8322 euros Reporting by Kate Entringer and Anait Miridzhanian in Gdansk

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