Accor has reported a 5.1 per cent rise in first-half operating profit, driven by restructuring efforts and robust demand in most regions. Consolidated EBITDA came in at €375 million in the first half of 2019.
Accor is set to debut its Raffles brand in Bahrain after signing an agreement with GFH Financial Group. The management agreement for Raffles Bahrain marks the start of a growing partnership between the two entities and consolidates Accor’s presence in the kingdom where it currently operates six properties.
Accor has strengthened its portfolio in Jordan to nine properties with the opening of the Mövenpick Hotel Amman. It follows the group’s takeover and re-brand of an existing 218-key property in the kingdom’s vibrant capital, which has undergone a refurbishment in line with Mövenpick brand standards.
Raffles Hotels & Resorts has updated plans for a property on the Palm Jumeriah in Dubai as part of its gradual expansion around the world. First unveiled in 2017, the new hotel will be the tallest building on the iconic structure when its is completed in 2021.
Raffles has announced the opening of the 21-villa property in the rare Maldivian oasis of Gaafu Alifu Atoll. Raffles Maldives Meradhoo becomes Accor’s fourth property in the Maldives and is the first under the Raffles brand.
Accor is mapping out its blueprint for accelerated growth in the Middle East & Africa at the annual Arabian Hotel Investment Conference in Ras al Khaimah. The rapidly-expanding group currently operates over 260 properties with 60,000 or more rooms across 36 countries in the region.
Sébastien Bazin, chairman of Accor, said: “Accor 2018 results reflect a profound transformation, marked foremost by the sale of our real estate division and a large number of acquisitions.”
The French hotel giant launched a tender offer in November last year for all the shares outstanding in the Polish company that it did not already own. AccorHotels strengthens the control on Orbis and consolidate its leadership in central Europe.
AccorHotels has unveiled a sneak peek of the guest rooms at Melbourne’s newest luxury hotel - Shadow Play by Peppers - in the city’s vibrant Southbank arts and entertainment district.
After completing the initial tranche of its share buyback program for €350 million in November, AccorHotels has revealed the launch of a second tranche for an amount of €500 million.
Imprinted in both history and imagination, the Orient Express brand has been reinvented for the future, with a vision to build a collection of prestigious hotels, steeped in tradition, myth and adventure.
Earlier this year AccorHotels struck strategic partnership with the South Africa-based Mantis Group. Here Breaking Travel News editor Chris O’Toole chats with Philippe Baretaud, the newly appointed chief executive of Mantis, to see what the partnership means for the company and its operations around the world