Accor Sa (ACRFF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to the Accor QM 2025 revenue conference call. Please note this conference is being recorded and for the duration of the call, your lines will be on listen only. However, you'll have the opportunity to ask questions after the presentation and this can be done by pressing star one on your telephone keypad to register your question. If you require assistance at any point, please press star zero and you'll be connected to an operator. I will now hand you over to your host, Martine Giraud, Group CFO, to begin today's conference. Thank you. Thank you. Good evening, ladies and gentlemen. Thank you for joining Accor's first quarter trading update call. And I will start with the key highlights on slide three. So I'm pleased to report that we started the year with sustained momentum. So the strategy of ACOA, which is to focus our investments in higher growth regions and segments, is yet again delivering another quarter of very solid growth. First quarter, RESPAR reflects a solid trading at plus 5%, like for like, driven by strong performance in the Middle East, in Southeast Asia, and the Americas. March was softer than January and February due to calendar shifts, notably with Easter that is shifting in April, which for us created a headwind in March. April and May are trending much better, and thus far we are not seeing significant changes in demand trends in our key markets. Pricing continues to be the main driver. contributing about 80% of the group ref bar growth in the first quarter. Occupancy was up by one point in the first quarter at 61%. Net unique growth reached 2.7% on the NELTN basis, reflecting a lower pace of openings in the first quarter, and a churn which this year will be more front-loaded. We expect NUG to accelerate in the second half, and w...