UK hotels in Accor outperform worldwide counterparts
UK hotels operated by French hotel company Accor performed more strongly than their worldwide counter-parts, according to the group's latest financial results.
While globally Accor reported like-for-like revenue growth of 3.8% during the third quarter of 2013, UK hotel occupancy in the upscale and midscale sectors and economy sectors were 86.7% and 86.1% respectively, while worldwide they were 74% and 75.9% respectively.
Revenue per available room was also strong for UK properties with the upscale and midscale hotels achieving a rate of £75 (worldwide: £59) and economy hotels recording a figure of £46 (worldwide: £35).
Overall, it was a solid three months for the group, which operates the Sofitel, Mecure, Novotel and Ibis brands. Worldwide revenue growth, like-for-like, for the first nine months of the year was 2.5%.
The last quarter was led by "a very satisfying" summer season and solid demand in key market during September. An increase in fees from managed and franchised hotels, reflecting Accor's asset-light expansion, also helped drive a strong performance.
Difficult trading conditions since the beginning of the year in southern Europe, Australia and China stabilised in the third quarter but remain fragile.
With the opening of 14,100 new rooms, of which 82% are managed or franchised properties, opening during the first nine months of 2013, Accor is expecting to achieve its full-year EBIT target of €510- €530m (£431-£448m).
Accor operates more than 450,000 bedrooms in 3,500 hotels in 92 countries, across 12 brands.
