AccorHotels has reported consolidated first-quarter 2017 revenue of €425 million, up 35.4 per cent on last year, or 7.4 per cent on a like-for-like basis.

Changes in the scope of consolidation (acquisitions and disposals) made a positive contribution of €82 million, or 26 per cent.

Key to this were the contributions of Raffles, Fairmont, Swissotel, onefinestay and John Paul.

Currency effects also had a positive impact of €6 million, attributable primarily to the Brazilian real (up €8.2 million) and the Australian dollar (up €4.3 million).

During the first quarter, AccorHotels’ development represented 35 hotels and more than 7,000 rooms.

As of March 31st, the group’s pipeline amounted to 951 hotels and 176,000 rooms.

Sébastien Bazin, chief executive, AccorHotels, said: “The trends observed in the first quarter in the vast majority of regions reflect a favourable environment for the hotel industry.

“This is particularly the case in our three main markets, France, Europe and the Asia-Pacific region.

“The new businesses also performed well, thanks in part to the support of AccorHotels.

“At the same time, the group further entrenched its growth, its move into new businesses and its leadership in the luxury segment through numerous value-creating acquisitions, namely Rixos and BHG in hotels, and Availpro, Potel & Chabot and VeryChic in new businesses.

“Lastly, the process of transforming AccorInvest into a subsidiary is underway; AccorHotels is therefore perfectly in line with our 2017 objectives.”