Weak Brazil, France hold back AccorHotels sales
PARIS, April 19 (Reuters) - Accor, Europe's largest hotel group, said on Tuesday first-quarter sales rose on a like-for-like basis, as robust demand for hotel rooms in most markets overcame a weaker performance in France and Brazil.
Revenue increased to 1.161 billion euros, an increase of 1.9 percent excluding currency effects, acquisitions and disposals. On a published basis, revenue declined 5.2 percent year-on-year.
The world's fourth-largest hotel group, with 3,900 hotels ranging from the luxury Sofitel to the budget Ibis chains, said French business was hampered by Islamist attacks in Europe, with sales in the country down 1.6 percent in January-March.
But the company said its domestic business should return to positive year-on-year growth in the second quarter thanks in part to the Euro 2016 football tournament in June.
The quarterly revenue figure fell short of the 1.2 billion expected by analysts, based on the average of estimates polled by Thomson Reuters.
(Reporting by Dominique Vidalon; editing by Laurence Frost)
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