Accor: positive outlook for 2012

Accor: positive outlook for 2012
By admin

Accor has stressed that business is “holding firm” despite an uncertain operating environment in Europe, with the French firm reporting a 19% increase in profits for 2011.

Pre-tax operating profit climbed to 530 million euro (AU$660 million) for the year, while revenue increased 2.5% to 6.1 billion euro (AU$7.6 billion).
Chairman and chief executive Denis Hennequin described the growth as “remarkable” and said it demonstrated Accor’s potential for growth.
“The group is in excellent financial health, which enables us both to continue our growth strategy and to submit to the next annual shareholders meeting a total dividend of 1.15 euro per share (AU$1.43),” he said.
Accor exceeded its expansion target of 35,000 rooms in 2011, opening 38,700 rooms with 33% of those in Asia Pacific.
It is targeting a further 40,000 rooms in 2012, with Asia Pacific representing 45% of its pipeline of development, according to Hennequin.
The group has a positive outlook for 2012, expecting to benefit from events including the London Olympics and the European football championship in Poland. 
In addition, the year will see it pursue its brand strategy, with the rebrand of its Ibis chain and expansion of its luxury divisions, Pullman and Sofitel.
Hennequin revealed that the hotel chain aimed to double the Pullman network by 2015.

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