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Accor reports a jump in revenue in third quarter

23 October 2006
Accor reports a jump in revenue in third quarter

Revenue at hotel chain Accor has jumped in the third quarter after a hotel recovery in Southern Europe combined with a strong showing in the north of the region.

The group's third quarter results saw revenue increase 6.8%, trumping the 6% growth achieved during the first half of the year.

The mid and upscale sector, which includes brands such as Sofitel, performed best with like-for-like revenue 7.6% ahead of last year, with Germany posting a 14% rise and the UK a 12.3% leap.

In the economy hotel market, which includes Ibis, revenue growth was lower at 5.8% after a strong recovery in the French, Spanish and Italian markets was off set by a lower rate of growth in Germany (4.6%).

Total hotel revenue was €4.09b (£2.74b) for the year to 30 September up from €3.87b (£2.59b) for the same period the previous year.

Accor group's consolidated revenue, which includes non-hotel earnings from services and products, was €5.64m (£3.78b) for the first nine months of 2006.

Accor's hotel brands also include Ibis, Formule 1, Novotel and Mercure.

Accor sees strong start to year >>

CatererSearch100 profile: Michael Flaxman >>

Accor website >>

By Emily Manson

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