Hotel giant Accor has reported operating profit before tax increased 22.1 per cent in 2014, standing at €578 million.

Revenue was up 3.8 per cent on a like-for-like basis, rising to €5,454 million over the year.

Accord said the results reflected “strong momentum in key markets” and the “pertinence” of the group’s new strategy.

Sébastien Bazin, chairman and chief executive, Accor, said: “The in-depth transformation being carried out by Accor started to pay off in 2014, with the Group posting excellent results in both its businesses – HotelServices and HotelInvest – and strengthening its leadership position.

“In 2015, the economic environment is expected to continue to vary significantly from one region to another.

“In addition, along with the rest of the industry, we must meet the challenges created by the digital transition, which is spurring us to rethink our businesses, strengthen our ties with our customers whose needs and habits are changing, and adjust our corporate culture and operating procedures.

Accor said it would pay a dividend of €0.95 per share, up 19 per cent when compared to 2013.

Bazin added: “Accor is a robust company with strong brands, dedicated teams and clearly defined objectives.

“This year, we will demonstrate once again our capacity to deliver on our objectives with determination and discipline – driving further progress in our strategy and our operating and financial performance and becoming the best performing and most highly valued hotel group for our guests, our partners, our employees and our shareholders.”