Changes in French tax legislation have been attributed to a dip in revenues for hotel group Accor.
The group saw a reported 1.8% dip in revenue for the first half of the year compared to the same six months in 2013.
Like-for-like revenue for its owned hotels (under HotelInvest) were up 1.6% to EUR2.28 million while growth in the Americas, Mediterranean, Middle East, Africa and parts of Europe pushed like-for-like revenues in the operator and franchiser unit (HotelServices) 5.7% to EUR582m.
In total the group added 12, 284 rooms in 92 hotels in the first of the year.
Accor’s chairman and CEO Sébastien Bazin said: “Accor’s saw good momentum in the first half despite a French market that continued to be unfavourably impacted by changes in tax legislation. HotelServices pursued its expansion in fast-growing regions and HotelInvest strengthened its position as Europe’s leading hotel investor with the recently completed acquisition of 97 hotels in Germany, Switzerland and the Netherlands.”
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