AccorHotels reports strong increase in revenue for early 2017

AccorHotels reports strong increase in revenue for early 2017

AccorHotels has reported revenue up increased 33.5 per cent, to €922 million, during the first half of 2017.

This was an 8.3 per cent increase on a like-for-like basis.

Sébastien Bazin, chairman and chief executive, AccorHotels, said: “AccorHotels’ results for first-half 2017 are particularly solid.

“They reflect growth in our hotel business, the rapid integration of recently acquired brands, our persistently dynamic development and the ramp-up of our new businesses.”

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EBIT for the period was up 68 per cent, to €226 million, or up 33.9 per cent on a like-for-like basis.

The growing company opened 23,000 rooms during the first half, or some 115 hotel.

AccorHotels has set a full-year EBIT target of between €460 million and €480 million.

Bazin added: “In this way, we are increasing our market share and consolidating our global leadership while profoundly transforming our business model.

“The separation of AccorInvest into a stand-alone legal entity has been completed.

“Discussions about the opening of this business to outside investors are on-going.

“Our pursuit of this growth strategy enables us to aim for another year of record growth in 2017.”