Accor's budget hotel outperform luxury siblings

27 January 2006
Accor's budget hotel outperform luxury siblings

Budget hotels outperformed their mid and luxury siblings last year at industry giant Accor.

Accor's budget hotels outside the US saw full-year turnover growth of 9.6% to €1.37b (£936m). US budget brands saw turnover increase 4.5% to €964m (£661m).

Turnover growth at up and mid-scale hotels in the group was described as sluggish, up 2.8% to €2.86b (£1.96b).

Accor Group's turnover rose by 7.9% to €7.62b (£5.23b) for the year ended 31 December 2005.

It said it was still on course to achieve pre-tax profit for the year of €590-610m.

By Emily Manson

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