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.
Caterer and Hotelkeeper 100: Thomas Dubaere, Accor Hotels UK >>
