Accor's revenue up 5.8% for Q3

20 October 2011 by
Accor's revenue up 5.8% for Q3

Accor has reported robust growth in the third quarter of the year, with like-for-like revenue up 5.8%.

Revenue for the nine months to the end of September 2011 is also up 5.8% to €4,587m like-for-like, with faster growth in the economy segment, compared with the midscale and upscale sectors, led by strong demand and an increase in average room rates.

In the UK, third quarter revenue growth stood at 6.6% in the upscale and midscale segment and 9.8% in the economy segment. Business was led by a dynamic London market, where occupancy rates of over 90% resulted in rate increases across all sectors.

The increase in revenue is partly due to the opening of 224 hotels (28,000 bedrooms) between January and September 2011, taking the total number of Accor hotels worldwide to 1,623. New additions include 24 Mercure hotels in the UK, now operated by Accor under a franchise agreement with Jupiter Hotels, the new owner of Jarvis Hotels - the biggest franchise agreement signed by the company this year.

The group now has 185 hotels in the UK, which it believes will ensure its goal of 300 hotels by 2015.

Accor signs franchise deal with London Town Hotels >>

Jarvis Hotels to be rebranded Mercure >>

By Janet Harmer

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