Accor sees turnover and profit rise in 2012 as it gears up for further growth

20 February 2013 by
Accor sees turnover and profit rise in 2012 as it gears up for further growth

French-based hotel group Accor has seen its revenue rise 2.7% to €5,6b (£4.9b), with operating profit before tax up 4.1% on a like-for-like basis to 468m Euros (£406m).

The company, which owns the Novotel, Sofitel and Ibis brands, said it had achieved record expansion of more than 38,000 rooms globally during 2012 (with 266 hotel openings), with 85% of those under management or franchise agreements.

The company now plans to grow by another 30,000 rooms per year in 2013-16, although it also has plans to restructure 800 hotels as part of its aim to reduce net debt by €2b (£1.7b).

The group also plans €100m (£86.7m) of savings between 2013 and 2014 to maintain competitiveness in an increasingly competitive European environment.

The group said it was planning development in emerging markets such as the Asia-Pacific region, Latin America and Africa and the Middle East, although the southern European economies continued to deteriorate.

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