French hotel group Accor increased like-for-like revenue by 3.8% to €5,454 (£4,159) during 2014, with turnover during the final quarter rising 5.1% compared with the same period the previous year.
Business within HotelInvest, the owner and investor part of the company, increased 3% to €4,794 (£3,655) on a like-for-like basis, while HotelServices (operator and brand franchiser) recorded like-for-like revenue up 5.5% to €1,248 (£951).
The strong set of figures has enabled Accor to revise its 2014 EBIT target upwards from between €575m (£438m) and €595m (£453m) to €600m (£457m).
In the UK, demand improved strongly by 8.7% in the fourth quarter. Led by the economy and midscale segments, with revpar up 9.9% and 6.5% respectively, this performance was due to record-high occupancy rates of 81% and good price gains across all segments.
Regional UK cities achieved an excellent performance, with a 11.8% increase in revpar during the final three months of the year, led by a vibrant economy, major sporting events in Liverpool, Manchester and Wolverhampton, and the MTV Europe Awards in Glasgow. Meanwhile, business in London also grew, with rising occupancy rates and a revpar of 4.1% in the fourth quarter.
Sébastien Bazin, chairman and chief executive of Accor, said the results were remarkable in light of the mixed economic environment during the year. "The solid performance reflects the commitment of our teams, the strength of our brands, the trust we have built up with our guests and partners, and the vitality of our development."
The group, which operates the Sofitel, Mercure, Novetel and Ibis brands across more than 3,600 hotels, opened 208 properties in 2014, representing 29,556 bedrooms.