Accor Hotels Reports Significant Increase in Revenue

 Accor Hotels has revealed its financial results for the first half of the year, reporting a total revenue of €2,726 million, up 5.1 per cent during the same period last year.

Earnings Before Interest and Taxes also got a boost, growing 23.8 per cent to €263 million, while net profits totaled €91 million, up 68 per cent.

"Once again, Accor Hotels has undertaken numerous initiatives to establish its lead and improve its performance," said Sébastien Bazin, Accor chief executive.

"Our teams have rallied around our strategic priorities – restructuring of the property portfolio at HotelInvest, selective hotel development, swift rollout of the digital plan, cultural transformation and revamping of the food and beverage offering."

"The benefits from these initiatives have contributed to our good results in the first half, which include a considerable increase in revenue and EBIT, strong cash flow generation, stronger presence in the fastest-growing markets and a development in the value of our hotel assets."

The first six months of 2015 marked strong growth in Europe for Accor Hotels outside of France, while there was also sustained growth in emerging markets, while Brazil was down sharply.

"These conditions allow us to set an objective for the full year of significantly improving our performance while at the same time increasing our digital investment, despite persistently mixed environments in Brazil and France," added Bazin.

"All of this news gives us the believe to proactively pursue our goal of transforming AccorHotels through our vision, boldness and pioneering spirit, with the same objective in mind – better serving our customers."

Accor expects the EBIT for 2015 to be somewhere between €650 million and €680 million.