Accor Reports Solid Growth in First Half 2013
Thursday July 25th, 2013 - 11:16AM BW
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PARIS—With a growing contribution from managed and franchised hotels, Accor has announced the company’s solid growth during the first half of 2013 with a gross revenue up 6.7% to €5.6 billion.
As a result of the 15.9% rise in management and franchise fees, Accor’s first-half revenue was up 1.8%. Reported revenue reflects expansion with the recent opening of 77 hotels and the changes in the scope of consolidation due to the assets disposal.
Revenue in the upscale and midscale segment rose by 3.7%. The segment’s solid performance was led by emerging markets, with double-digit growth in Latin America (up 13.9%) and Africa-Middle East (up 15.3%). The quarter saw strong resilience in Europe. France, Germany and the United Kingdom, which benefited from major trade fairs, according to Accor.
Revenue from economy hotels increased by 2.4%. While the economic environment in Spain remained challenging, sales in this segment were driven by firm demand in Germany and the United Kingdom. The segment also benefited from a few signs of improvement in Italy and Portugal. France’s performance improved, compared with the early part of the year. With the exception of Australia and China, emerging markets reported very satisfactory growth.
Tags: • Hospitality • Brands •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.