Accor reports 5.1% rise in revenue

31 August 2010 by
Accor reports 5.1% rise in revenue

Accor has reported a strong performance in its hotels during the first half of 2010 with revenue up 5.1% compared to the same period last year.

In Europe, the recovery that began in the first quarter gained momentum in the second quarter with growth led by higher occupancy rates.

Revenue per available room (revpar) in Accor's upscale and midscale hotels in Europe was up 14.1% in July, compared with a 7.1% rise during the first six months of the year, while economy hotels in Europe recorded a 5.6% rise in revpar compared to a 3% increase from January to June.

The company is on target to open more than 200 hotels this year, representing more than 26,000 new rooms, with 93 properties (10,900 rooms) opening in the first six months of 2010. Of the new hotels that opened in the first half of the year, 80% are either under management or franchise contracts.

Accor currently operates 4,100 hotels with nearly 500,000 rooms, throughout 90 countries.

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By Janet Harmer

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