In earnings news from Accor Group, the French hotel company released their Q3 results last week reflecting a slight upturn for the first nine months of this year. Despite a European industry staggered by economic woes, Accor manages black ink.
Accor SA, one of the world’s leading hotel management players, reportedly increased their revenue by some 1.0% in Q3 at €1.49 billion, up form from €1.47 billion year on year. Overall the company has seen revenues rise by about 1.3 percent over the previous year, a modest but respectable and much needed figure for not only Accor, but any European hotelier of late.
According to the report from Accor, revenue from hotels jumped 1.1% to €1.44 billion versus €1.42 billion last year, and the company reported upscale and midscale sectors as the prime movers for profit. i
Geographically, while France revenue dropped significantly year on year, Germany profits actually grew over 4%. Accor’s biggest growth market, the UK, put money in the company’s coffers at a rate and amount almost 5% greater than for last year. Again, the midscale and upscale segments were responsible.
On another positive note for Accor, the group has just announced having raised an amazing $462,290 for the charity Cure Kids Fiji. The fourth biennial Accor Extreme Challenge to Cure Kids saw hotel personnel and sponsors go to extremes to help children. Event communication manager Murray Davison offered this about the event:
“In addition to the funds raised by hotel staff a number of companies also sponsored the event through significant financial donations. These companies include Accor Hotels, Accor Advantage Plus, ATS Pacific, Digicel, Piazza D’Oro Coffee, Reivernet, Rentokil, Rosie Holidays, Star Printery, UB Freight and Yees Cold Storage.”
Accor is looking a lot better on many fronts headed into Winter. The group’s divestitures, bold moves in underdeveloped markets such as Africa, and reorganization efforts would seem to have begun to take shape in the form of more positive numbers and even PR. We will keep you appraised of further industry moves on their part. Finally, 100,000 fans on Facebook (top image) is not a bad indicator for the hotel group either.
For more info about Accor’s Q3 results, the reader can view the official press release from the company via this PDF.