The hotel industry has benefited from higher prices and a rebound in travel demand in the wake of the pandemic, with consumers rushing to travel even as rising interest rates stoke fears of a recession and inflation continues to erode household purchasing power.
"Consumers' desire to travel has never been stronger," deputy CEO Jean-Jacques Morin said on call with journalists.
China saw a clear acceleration in the quarter, especially after the Chinese New Year, with significant potential for the rest of the year, he added.
Accor's RevPAR, a key industry measure of hotel performance, is expected to grow between 10% and 20% this year, Morin said, up from a previous target of 5%-9%.
The group, which operates brands including Mercure and Ibis, said RevPAR rose 19% in the three first months of the year compared with the same period of 2019, before the pandemic grounded international flights.
(Reporting by Diana Mandiá and Victor Goury-Laffont in Gdansk; Editing by Kirsten Donovan)
