Accor growth on target as earnings rise
22 March 2001
Accor's higher-than-forecast earnings for 2000 have boosted the French hotel giant's expectation of achieving annual double-digit growth in profits for the next five years.
Its strong performance last year was prompted by growth in its core European hotels.
Pre-tax profits for 2000 were up by more than 26% to €751m (£473m) and revenue increased by almost 15% to €7b (£4.4b).
Prospects for 2001 also look healthy, particularly in Europe.
Accor intends to focus its continued development across Europe and in major cities in Asia and Latin America. In the USA, most profit comes from its Red Roof and Motel 6 hotels.
Accor said it wanted to increase its number of hotel bedrooms by 10% a year.
