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Hotel group Accor enjoys strong start to the year

21 July 2006
Hotel group Accor enjoys strong start to the year

French hotel giant Accor has enjoyed a strong first half to the year, aided by a solid recovery in Northern Europe.

Like-for-like hotel turnover grew 5.5% year-on-year to €2.67b (£1.82b).

Economy hotels in the USA performed particularly strongly with like-for-like turnover up 6% to €492m (336m).

Upscale and midscale hotels also performed well, with like-for-like turnover up 5.7% to €1.46b (£997).

German hotels, boosted by the Fifa World Cup, saw their like-for-like sales climb 10.4%. Even without this the increase was 7.3%, reflecting a much improved economic situation in the country.

Total like-for-like turnover, which includes the group's service business of meal vouchers, incentive and loyalty programmes, jumped 6% to €3.69b (£2.52b).

£145m Trocadero redevelopment plans submitted to council >>

Accor sells big stake in holiday company >>

Accor to invest €300m in Turkish construction project >>

By Chris Druce

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