Accor Sees No Major Demand Changes Despite Economic Strains

Accor, the Paris-based hotel operator, reported solid first-quarter performance despite broader economic concerns related to recent U.S. trade policies.

"We're not seeing cracks in demand," said Martine Gerow, chief financial officer, on an earnings call Thursday. "We feel good about how April and May are trending."

While March performance softened compared to January and February, Gerow attributed this primarily to calendar shifts, notably Easter moving to April this year, which created a temporary headwind. 

April bookings had rebounded and "are back to positive territory," particularly in popular French spots like Paris and Provence, the CFO said.

Accor's "visibility is limited beyond May," Gerow said, because most of its hotel reservations are non-refundable. Hotels are also often booked more last-minute than flights and trains are.

Accor Group CEO Sébastien Bazin said on April 1 that the company had seen a 25% d