Recovery for hotel stays in the UK and a range of new openings has helped French hotel giant Accor post a rise in revenues for its third quarter period.
Demand for its economy hotels, which include the ibis brands, was up 10.5% in the UK during Q3 while its midscale properties (Novotel, Mercure and adagio) saw an 8.8% boost.
While London still performed well for the company it also benefitted in Glasgow and Wales from the Commonwealth Games, Ryder Cup and NATO Summit.
Along with recovery in southern France and a strong performance in Germany and the Benelux region the hotel chain managed to post a 3.3% reported increase in revenue in Q3, or 4.6% like-for-like pro forma.
The group opened a total of 51 hotels or 7, 259 rooms during the quarter including an ibis Styles property in London’s Kensington.
It is now on target to reach EBIT between EUR575m and EUR595m in its full-year results.
Sébastien Bazin, chairman and CEO said: “This strong third-quarter performance enables us to confirm the full-year EBIT target set for 2014. Obviously, we will continue to pay close attention to changes in the persistently lackluster French market, and to the situation in Africa. The strong demand in Europe, including in Southern Europe, and in emerging markets will provide the growth necessary for HotelInvest and HotelServices to continue to implement their strategic roadmaps.”
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