French hotel group Accor has announced that it is on target to achieve a record year in 2019 after reporting a 4.8% increase in like-for-like revenue during the company's first half-year results.
Consolidated revenue for the global group, which comprises 717,314 rooms across 4,892 hotels, increased by 27.8% to £1.75b between January and June 2019, while earnings before interest, tax, depreciation and amortisation (EBITDA) was up 30.1% to £341.4m. Like-for-like EBITDA increased by 5.1%.
While consolidated revenue per available room (revpar) worldwide rose by 2.9%, the increase in the UK trailed behind at a more modest 1.2%. London produced a more resilient performance, with revpar up 4.3%, reflecting an "active tourism market". In contrast, revpar in regional UK cities dropped by 2.1% due to "uncertainties related to Brexit".
The number of new rooms in the pipeline for Accor stood at 202,000 (1,153 hotels) on 30 June.
Based on revpar trends during the first half of the year, Accor forecasted EBITDA for the full year of between £747m and £774m.
Accor comprises 36 brands including the budget Ibis, mid-market Mercure and luxury Fairmont, of which the Savoy (pictured) in London is one of the flagships.