Accor’s UK hotels set record-high occupancy

UK hotels under Accor brands set record-high occupancy rates and price gains during the fourth quarter of its financial year.

Its economy and midscale brands, which include ibis, ibis Styles, Novotel, Mercure and adagio, set occupancy rates of 81% with revenue per available room (RevPAR) increasing across the country.

In London the RevPAR increased 4.1% in Q4, while other cities including Liverpool, Manchester and Glasgow saw an 11.8% boost in RevPAR.

The figures are higher than the French hotel chain’s other markets such as France, Germany, the Americas and the rest of Europe.

The announcement was part of the group’s fourth quarter results, in which it revised its EBIT target from EUR575m-EUR595m to around EUR600 million. Its 2014 annual result is due on 18 February.

In its latest quarter results the firm posted a 5.1% increase in revenue like-for-like with its revenue for the year expected to come in at EUR5.35m, up 3.8%.

Its hotel operator and franchiser business continues to lead with business volume up 3.9% to EUR11.9 billion. Growth was seen the most in the Americas.

Its owner and investor arm also saw an increase, of 3% to EUR4.79m, with solid growth in all markets except Asia Pacific and France.

“Accor’s growth in 2014 is even more remarkable in light of the mixed economic environment during the year and the fact that a major transformation was underway within the group. The solid performance reflects the commitment of our teams, the strength of our brands, the trust we have built up with our guests and partners, and the vitality of our development,” said Sébastien Bazin, Accor chairman and CEO. “Thanks to the rigorous implementation of our new strategy and the faster pace of growth in the fourth quarter, we are raising our EBIT target to around €600 million.”

sourced:traveldailymedia.com