Accor: Q1 2014 revenue up 2.1% like-for-like to €1.135 billion (France)
Solid growth for HotelServices, up 4.7%, and HotelInvest, up 1.2%
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Accor: Q1 2014 revenue up 2.1% like-for-like to €1.135 billion (France)
Solid growth for HotelServices, up 4.7%, and HotelInvest, up 1.2%
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Category: Europe - France - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2014-04-18
Robust demand in every key market outside France, with pro forma revenue gaining 2.1% like-for-like and declining 5.5% as reported.
HotelInvest, Hotel owner and Investor - Revenue up 1.2% like-for-like to €992 million, of which €109 million paid to
HotelServices as fees.
- Good revenue growth in every geography except France (down 3.9%), where
demand was dampened in particular by the increase in the VAT rate on January 1st.
HotelServices, Hotel operator and brand franchisor - Gross revenue(1)up 3.5%, excluding the currency effect, to €2.5 billion, led by
expansion in emerging markets.
- Revenue up 4.7% like-for-like to €262 million, with strong gains in the Mediterranean, Middle East, Africa region (MMEA, up 7.5%), the Asia Pacific region (up 8.1%) and the Americas (up 11.6%), thanks to expansion that was 85% under management and franchise contracts.
- 4,449 new rooms opened during the quarter, 50% of which were in emerging markets and 85% of which through franchise and management contracts.
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