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Terror attacks take toll on revenues at AccorHotels

Terror attacks take toll on revenues at AccorHotels

AccorHotels has seen global revenues slip by two per cent to €2,598 million over the first half of 2016, while EBIT fell four per cent to €239 million.

Sébastien Bazin, chairman of AccorHotels, said: “With several of our key markets, including France and Brazil, shaken by crises and violent events, the group showed remarkable resilience in the first half of 2016.

“We continued to invest heavily in order to grow, transform and gain a foothold in new businesses that are destined to become fundamental for the group.”

Accor saw record development in the past six month, with the opening of 19,366 rooms, with 90 per cent of which under franchise or management contracts.

Bazin added: “We will pursue this offensive strategy in the coming months.

“Our presence in 95 countries, our leadership positions in Europe, Asia-Pacific, Latin America, Africa and the Middle East, and our strength as the world’s leading hotel operator covering all segments from economy to luxury give us a major competitive edge.

“Combined with the launch of a project to turn our property division into a subsidiary and a strategy that gives priority to customer-focused innovation, these strengths will be the drivers of our future growth.”