Accor enjoys continued momentum in Q2 2014
Total second quarter revenues were up 3.3 per cent on a like-for-like basis, with the group’s investment arm HotelInvest reporting revenue growth of 2 per cent to €1,294 million.
Its hotel operator and franchiser unit, HotelServices, saw business volumes grow by 6.2 per cent in the second quarter, with comparable revenues up 6.5 per cent to €320 million.
Combined with healthy growth in the first quarter of the year, this momentum helped drive total first-half revenues up 2.8 per cent on a like-for-like basis.
“Accor’s saw good momentum in the first half despite a French market that continued to be unfavorably impacted by changes in tax legislation,” said Accor chairman and chief executive Sébastien Bazin.
“HotelServices pursued its expansion in fast-growing regions and HotelInvest strengthened its position as Europe’s leading hotel investor with the recently completed acquisition of 97 hotels in Germany, Switzerland and the Netherlands.”
UK growth
Accor said it enjoyed ‘strong trading’ in the UK, where it opened four hotels with 530 rooms in the second quarter.
Performance was primarily led by the midscale and economy segments, which enjoyed solid demand and increased capacity.
Strong demand helped drive London RevPAR up 3.9 per cent, and Accor said its hotels in cities outside of the capital, particularly in Bristol, Cardiff and Manchester ‘delivered a very strong performance’, with RevPAR outside London rising by 8.3 per cent over the period.
In total, Accor’s UK HotelInvest division and HotelServices division enjoyed like-for-like revenue growth of 5.0 per cent and 3.6 per cent respectively.
