Revpar rise boosts Accor profits
French hotel and restaurant group Accor has announced a 27% increase in net profits to euro 196m (£118.2m) during the first half of 2000 and is predicting a rise of at least 20% for the full year.
Operating profits for the half year rose by 36% to euro 326m (£196.7m) and sales were up by 16% to euro 3.3b (£2b).
In the eight months to 31 August, Accor experienced a 6.1% increase in revpar (revenue per available room) in its upmarket and midmarket European hotels.
Revpar in its budget and economy European hotels increased by 7%, whereas in the USA it increased by only 2.8%.
On 31 August Accor had almost 3,500 hotels in 90 countries, with 385,000 bedrooms.
At the end of August it had plans to open 474 hotels, with 58,736 bedrooms. Of the planned hotels, 277 will be in Europe.
by Louise Bozec louise.bozec@rbi.co.uk
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