The activities of Accor hotels up
Tuesday, July 20th, 2010Accor announced Tuesday an increase of 5.1% of its turnover in the hotel industry in the first half on a comparable basis, driven by the high and mid-range.
The fourth group behind global hotel InterContinental, Marriott and Hilton and Starwood publish its first financial data since the demerger of its business of prepaid services, Edenred, July 2.
The total turnover of the group were up by 6.1%, representing a growth of 4.7% on a comparable basis, to 2.849 million euros.
On the only hotel business, which include brands Ibis, Sofitel and Motel 6 in the U.S., net sales increased 7.5% as reported at 2.723 million.
In the second quarter alone, the organic growth of the hotel was up 8.2% at constant scope and exchange rates.
"In most countries, especially in Europe, the recovery began in the first quarter accelerated in the second quarter, thanks to a favorable base effect," said Accor in a statement.
The group claims to have earned a higher "backed" by its occupancy rate in the upper and mid-range and higher average prices of its main markets, France, Germany and the United Kingdom.
Hotel groups noted an improvement in demand, the slow economic recovery that encourage consumers to resume their journeys.
Marriott International issued last week an increase in profit in the second quarter, benefiting from increased prices of its rooms in North America.
Accor announced the sale in early July Newrest 60% of its business catering on trains of the Compagnie des Wagons-Lits (CWL).
Edenred Monday announced an increase of 4.7% of its turnover in the second quarter, growth of Latin American operations have helped offset a more difficult economic environment in Europe.
The shares closed up 0.8% to 23.1850 euros, giving a market capitalization of 5.28 billion. It fell 39% since the beginning of the year.