Accor Reports Solid Growth in First Half of 2013
Wednesday July 17th, 2013 - 9:47AM XB
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PARIS—Accor has seen favorable growth in the first quarter of 2013, supported by a strong Q2, according to the company.
Highlights of Accor’s report include a 6.7% increase in gross revenue, which the company attributes to management and franchise expansion. Accor also reported that first half revenue was up 1.8% like-for-like, with a 3.3% increase in the second quarter.
Accor also noted that growth has been strong across all segments, led by emerging markets and resilience in Europe. The company added 9,940 new rooms during the first half, 80% of which were under asset-light structures.
Tags: • Hospitality • Brands • Quarterly Results •
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.