Accor smashes 2011 expansion targets

By admin


Accor has reported a record year for expansion in 2011 with nearly 39,000 hotel rooms opened over the course of the year, exceeding its target of 35,000.
The figure marks a significant increase in expansion compared with 2010 when it opened 214 hotels and 24,900 rooms.
Asia Pacific accounted for 33% of the chain’s growth although the December acquisition of Mirvac’s 48 Australian and New Zealand properties which will add more than 6000 rooms to Accor’s portfolio, did not feature in the figures.
The French hotel giant revealed that its emerging markets remained “very strong” with Asia Pacific recording revenue growth of 8% in the upscale and midscale segment and 6.6% in the economy segment, overshadowing French growth of 3.3% and 3.9% respectively.
Overall revenue grew 5.2% like for like, including a strong performance in the fourth quarter which yielded 3.6% growth, spurred by improved room rates in the economy segment in the US and Europe.
On the basis of this performance, the hotel chain confirmed its full-year EBIT target of 510-530 million Euros.
Meanwhile, chief financial officer Sophie Stabile said that her outlook for 2012 was quietly positive, despite ongoing economic uncertainty in Europe and the US.
“I am optimistic but cautious in view of the economic climate,” she said. “We are on a decent booking trend for the coming months. At this stage, we are on the same trend as in the fourth quarter, except in southern Europe.”

Email the Travel Weekly team at traveldesk@travelweekly.com.au

Latest News

  • Destinations
  • News

APT Launches 2025 Asia Adventures

APT has launched its Asia Adventures for 2025, including new luxury holidays in India, Sri Lanka and Japan. Five new tours lead guests to the highlights of India, including a seven-night cruise along the rarely travelled Lower Ganges aboard the Ganges Voyager. Further south, Sri Lanka’s greatest destinations are revealed on a new 15-day Land […]

  • Cruise
  • Luxury
  • News

Seabourn announces Western Kimberley Traditional Owners as Godparents of Seabourn Pursuit

Seabourn has named Western Kimberley Traditional Owners, the Wunambal Gaambera, as Godparents of the ultra-luxury purpose-built Seabourn Pursuit. It is the first cruise line to appoint Traditional Owners as godparents of a ship. Seabourn Pursuit embarks on its inaugural season in the Kimberley region this June. The naming ceremony will take place on Seabourn Pursuit’s […]

  • Luxury

Malolo Island Resort opens brand new Spa

Fiji’s Malolo Island has added another string to its bow – opening its $1.3 million day spa on Thursday, 18th April 2024. (Lead Image: matriarch Rosie Whitton with spa staff) Located at the edge of the resort’s luscious patch of tropical rainforest, the new “Leilani’s Spa” adds another level of elevated experiences to Malolo’s already […]