Transformation of AccorHotels helps grow revenue

30 July 2015 by
Transformation of AccorHotels helps grow revenue

The restructure of AccorHotels has helped drive like-for-like revenue growth by 4.1% to €2,726m (£1,913m) during the first half of 2015, according to the company's latest financial results.

In November 2013, the French hotel group split the business between its ownership arm HotelInvest and the operating and franchisor part of the business, HotelServices.

During the second quarter of the year to the end of June 2015, like-for-like turnover at HotelInvest and HotelServices increased by 2.5% to €1,318m (£925m) and 5.4% to €342m (£240m), respectively. During this period HotelServices opened its digital platform up to independent hotels.

Performance across Europe was strong, except France where growth was described as only "moderate".

Sébastien Bazin, chairman and chief executive of AccorHotels, said the company has been focused on restructuring the property portfolio at HotelInvest, rolling out its digital plan, undertaking selective hotel development, and revamping its food and beverage offering.

"The benefits from these initiatives have contributed to our good results in the first half, which include a significant increase in revenue and EBIT [earnings before interest and tax], strong cash flow generation, more robust positions in the fastest-growing markets and an improvement in the value of our hotel assets," he said.

TagsFinance and Hotels
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