Accor reports ‘gradual’ recovery

Accor reports ‘gradual’ recovery

French hotel giant Accor has reported seeing a “gradual” recovery in room rates in the first half of the year.

Revenue in the first six months of the year was up by 4.4% to €2,973 million, with faster growth seen in the second quarter.

Second quarter like-for-like revenue growth in the UK stood at 12% in upscale and midscale properties and 5.8% in economy hotels.

London hotels led the improvement with average occupancy rates of more than 90%.

“The capital’s leisure market was particularly dynamic, thanks to the royal wedding and the Easter holiday,” a spokesman said.

But while average room rates rose strongly in London, they came under pressure from increased competition in the provinces.

The group opened 108 hotels representing 13,700 rooms across its global network and is “on track” to meet its full year target of 30,000 new rooms. 

The company said it was “confident this favourable momentum will carry on through 2011 with positive signs already visible concerning activity for the summer season and the early autumn”.


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