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Olympics have negative impact on Accor's upscale and midscale hotels

17 July 2012 by
Olympics have negative impact on Accor's upscale and midscale hotels

Preparations for the Olympic Games have had a negative impact on the revenue of Accor's upscale and midscale hotels in the UK, with like-for-like turnover down 3.9%.

In reporting its half-year figures for 2012, the French hotel group said that the renovation of some of its London hotels and the anticipated closure of the Excel Congress Centre and the O2 Arena in preparation for the games had resulted in a negative set of figures for its upscale and midscale properties, which account for 5,541 rooms across the UK.

Occupancy for the upper and midscale hotels in the UK fell 0.8% to 76.4%, with revenue per available room (revpar) also dropping, by 1.2% to £62.

However, revenue from Accor's UK economy hotels, which account for 9,358 rooms, rose by 4.3% on a like-for-like basis, as a result of an increase of 1.8% in occupancy to 76.1% and a revpar rise of 3.4% to £35.

The UK operations also benefited from a 20.1% increase in management and franchise fees the company's portfolio of 4,400 hotels with 530,000 rooms across 92 countries.

The expansion of Accor worldwide set a new record during the six-month period, with the opening of 20,700 rooms across 141 hotels, of which 85% are under management or franchise contracts.

Accor opens record number of bedrooms during 2011 >>

Accor aims for 10% CO2 emissions reduction by 2015 >>

Accor invests £5m in employee training ahead of 3,500 new jobs >>

By Janet Harmer

E-mail your comments to Janet Harmer here.

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