Hotel Operators See Premium Boost as Luxury Travel Recovers

Hotel operators are benefiting from a boost in demand for luxury travel, as the industry rebounds from pandemic lows.

Sofitel owner Accor SA’s revenue per available room jumped 9.5% in its luxury and lifestyle segment in the fourth quarter, outpacing the 5.8% growth in its economy division. The French hospitality group announced a €450 million ($531 million) share buyback program and confirmed its medium term ambitions.