April 18, 2019 / 4:15 PM / a month ago

Accor says confident over 2019 after Q1 sales rise

PARIS, April 18 (Reuters) - Accor, Europe’s biggest hotel group, said on Thursday it was confident over its 2019 outlook after its first quarter revenue rose 8.8 percent on a like-for-like basis thanks to robust business in Europe and a recovery in South America.

The French company, with more than 4,000 hotels ranging from luxury Sofitels to the budget Ibis brand, said first-quarter revenue reached 987 million euros ($1.11 billion).

Accor has been cutting costs, expanding in China as well as in the luxury end of the market and investing in new areas such as concierge services to boost growth and fight the rising challenges posed by companies such as Airbnb and online travel agents. ($1 = 0.8901 euros) (Reporting by Dominique Vidalon Editing by Bate Felix)

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