Accor announces solid growth figures for 2014

Accor announces solid growth figures for 2014

French hotel group Accor has announced strong growth figures for 2014 with increased like-for-like revenue of 3.8%, to €5,454m (£4,159m).

The group reported particularly good results towards the end of the year, with like-for-like revenue in its fourth quarter (Q4) up 5.1%.

Like-for-like revenue for HotelInvest, the hotel owner and investor part of the company, increased by 3%, to €4,794m (£3,655m), citing solid growth in every geography except Asia-Pacific – down 0.5% owing to China – and France, where revenue fell by 0.2%.

Meanwhile HotelServices, the group’s hotel operator and brand franchiser division, saw revenue increase by 5.5% to €1,248m (£951m).

In the Uk, demand improved strongly in the Q4, up 8.7%, led by the group’s economy and midscale segments, where revenue per available room (RevPAR) was up 9.9% and 6.5% respectively. This was led by record-high occupancy for the group at 81%.

A total of 208 hotels were opened under the group in 2014, representing 29,556 rooms.

Sébastien Bazin, Accor chairman and chief executive officer, said: “Accor’s growth in 2014 is even more remarkable in light of the mixed economic environment during the year and the fact that a major transformation was underway within the Group.

“The solid performance reflects the commitment of our teams, the strength of our brands, the trust we have built up with our guests and partners, and the vitality of our development.

“Thanks to the rigorous implementation of our new strategy and the faster pace of growth in the fourth quarter, we are raising our EBIT target to around €600m (£459.5m).”