Accor exceeded its global expansion target by opening a record number of nearly 39,000 hotel rooms during 2011, according to the French company's fourth quarter results for last year.
It recorded a revenue increase of 5.2%, like-for-like, during 2011, including a 3.6% growth in the final quarter, with improved average room rates in the economy segment in Europe and the United States leading the growth. Revenue for the year ending 31 December 2011 was £5,091m.
In the UK, fourth quarter like-for-like revenue growth stood at 1.5% in the upscale and midscale segment and 3.4% in the economy segment. The London market remained the principal driver of the improved revnue, with the capital's hotels in all segments reporting record occupancy rates averaging 87% for the quarter and significantly raised room rates.
Occupancy rates outside the capital sharply improved, particularly in the economy segment thanks to marketing actions towards short-break leisure travellers.
While demand for hotel rooms was strong throughout 2011 in emerging markets, the United States and the main European markets, the situation in southern Europer continued to deteriorate.
Accor currently has 4,400 hotels and 530,000 bedrooms worldwide, while in the UK it plans to grow its current portfolio of 186 hotel (24,000 bedrooms) to 300 by 2015.
By Janet Harmer
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