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Accor sees turnover jump in first half of 2007 thanks to strong European performance

17 July 2007 by
Accor sees turnover jump in first half of 2007 thanks to strong European performance

European hotel giant Accor has seen turnover in the first half of the year jump 8.6% thanks to a strong performance from its mid and high-end hotels in the UK and France.

The company, which makes around 70% of its total hotel turnover from properties in Europe, said the increase in turnover showed the "continuing uptrend" in the European hospitality industry that had started in the fourth quarter of 2006.

Total hotel turnover in the first part of 2007 increased 8.6% to €2.896b (£1.95b). This compared with €2.666b (£1.796b) in the same period of 2006.

Midscale and upscale hotels, which include the luxury Sofitel brand, boosted turnover 14.1% in the half year to €1.457b (£982m).

In the UK mid to upscale hotel segment turnover rose 8.1% like-for-like during the half thanks to a strong performance in London.

Kiev to get its first luxury Sofitel hotel >>

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Accor reports a rise in revenues >>

By Chris Druce

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