Accor has reported consolidated first-quarter revenue of €361 million for 2021.

The figure is down 53 per cent on a reported basis against last year, and down 57 per cent when compared to pre-Covid first quarter of 2019.

RevPAR at the French hotel giant fell by 64 per cent versus quarter one of 2019, reflecting an environment that remains hard hit by the Covid-19 epidemic.

There were, however, significant year-on-year improvements in south Europe, Australia, the Middle East and North America, the company said.

In total, 87 per cent of Accor hotels are currently open, with more than 4,500 properties in operation.

Sébastien Bazin, chief executive Accor, 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.”