Paris, February 4, 2003
(in
€ millions) |
2001
|
2002
|
% change (reported)
|
% change
(like-for-like)
|
Hotels |
5,049
|
5,034
|
- 0.3%
|
0.0%
|
Services |
498
|
469
|
- 5.7%
|
+ 16.9%
|
Other
businesses |
1,743
|
1,635
|
- 6.2%
|
- 1.1%
|
Total
Group |
7,290
|
7,139
|
- 2.1%
|
+ 0.9%
|
Consolidated sales ended
2002 down by 2.1% on a reported basis. Like-for-like, however, sales rose
by 0.9% over the year, including a 3.8% increase in the fourth quarter.
Hotels
Hotel sales were stable, declining by 0.3% for the year, with business
firmer in the fourth quarter. The contribution from newly opened hotels
added 3.5% to sales growth. On a comparable basis, sales rose by 0.6% for
Business and Leisure Hotels and by 3.4% for Economy Hotels Europe. Sales
for Economy Hotels US were down 4.2% like-for-like.
Services
Sales of services rose sharply in 2002,
increasing 16.9% like-for-like. The reported decline of 5.7% was due to
currency devaluations in Latin America. In terms of earnings, the currency
effect should be more limited, because of higher interest rates and the
fact that expenses are denominated in local currencies.
Other businesses
Reported sales from other Group businesses
(travel agencies, casinos, restaurants and onboard train services) contracted
by 6.2% for the year, mainly due to the sale of a 50% stake in Accor Casinos.
2002 profit before tax
In September 2002, Accor announced a full-year objective of €700 million
in profit before tax. Despite an environment that was less favorable than
expected, the final figure, which will be released on March 5, 2003, should
be very close to that objective.
Consolidated
Sales |
First Quarter
|
Second Quarter
|
Third Quarter
|
(in EUR
millions) |
2001
|
2002
|
|
Change
|
2001
|
2002
|
|
Change
|
2001
|
2002
|
|
Change
|
Hotels |
1,121
|
1,135
|
+1.3%
|
-1.9%
|
1,359
|
1,344
|
-1.1%
|
-1.2%
|
1,348
|
1,324
|
-1.8%
|
-0.1%
|
Business and
leisure |
610
|
608
|
-0.4%
|
-2.5%
|
727
|
719
|
-1.0%
|
-0.9%
|
682
|
689
|
+1.1%
|
+1.3%
|
Economy |
221
|
237
|
+7.0%
|
+4.1%
|
266
|
292
|
+9.8%
|
+3.4%
|
281
|
300
|
+6.8%
|
+2.7%
|
Economy U.S. |
289
|
290
|
+0.2%
|
-5.1%
|
366
|
332
|
-9.3%
|
-5.1%
|
385
|
334
|
-13.1%
|
-4.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Services |
116
|
123
|
+6.0%
|
+14.0%
|
126
|
125
|
-0.6%
|
+21.5%
|
123
|
104
|
-15.6%
|
+14.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other activities |
416
|
408
|
- 1.9%
|
-2.4%
|
463
|
451
|
-2.6%
|
-4.3%
|
426
|
389
|
-8.7%
|
+0.4%
|
Travel management |
124
|
116
|
-5.9%
|
-9.8%
|
142
|
121
|
-14.6%
|
-12.0%
|
115
|
110
|
-4.3%
|
+2.1%
|
Casinos |
71
|
72
|
+2.1%
|
+0.8%
|
75
|
76
|
+1.9%
|
+0.6%
|
76
|
44
|
-42.4%
|
+1.6%
|
Restauration |
115
|
118
|
+2.2%
|
+3.8%
|
123
|
115
|
-6.4%
|
+3.2%
|
108
|
89
|
-17.6%
|
+3.3%
|
On-board train
services |
63
|
65
|
+4.4%
|
+3.5%
|
70
|
72
|
+2.5%
|
+1.6%
|
75
|
77
|
+1.9%
|
-2.1%
|
Other |
44
|
37
|
-16.6%
|
-10.9%
|
53
|
66
|
+25.1%
|
-15.8%
|
52
|
70
|
+34.1%
|
-7.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
1,652
|
1,666
|
+0.8%
|
-0.9%
|
1,948
|
1,920
|
-1.4%
|
-0.4%
|
1,897
|
1,817
|
-4.2%
|
+1.0%
|
Consolidated
Sales |
Fourth Quarter
|
December-end 2002 (YTD)
|
(in EUR
millions) |
2001
|
2002
|
|
Change
|
2001
|
2002
|
|
Change
|
Hotels |
1,221
|
1,231
|
+0.8%
|
+2.9%
|
5,052
|
5,034
|
-0.3%
|
0.0%
|
Business
and leisure |
680
|
704
|
+3.5%
|
+4.4%
|
2,704
|
2,720
|
+0.8%
|
+0.6%
|
Economy |
255
|
270
|
+5.8%
|
+3.8%
|
1,022
|
1,100
|
+7.4%
|
+3.5%
|
Economy
U.S. |
286
|
257
|
-10.1%
|
-1.3%
|
1,326
|
1,213
|
-8.5%
|
-4.2%
|
|
|
|
|
|
|
|
|
|
Services |
134
|
118
|
-11.5%
|
+17.1%
|
498
|
469
|
-5.7%
|
+16.9%
|
|
|
|
|
|
|
|
|
|
Other
activities |
438
|
387
|
-11.8%
|
-2.0%
|
1,740
|
1,635
|
-6.2%
|
-1.1%
|
Travel management |
120
|
106
|
-11.5%
|
-3.5%
|
499
|
453
|
-9.3%
|
-6.2%
|
Casinos |
81
|
49
|
-38.8%
|
+3.4%
|
302
|
242
|
-20.1%
|
+1.6%
|
Restauration |
126
|
102
|
-19.1%
|
+8.5%
|
472
|
423
|
-10.3%
|
+4.8%
|
On-board
train services |
69
|
69
|
+0.6%
|
-1.7%
|
277
|
284
|
+2.3%
|
+0.2%
|
Other |
43
|
61
|
+39.1%
|
+1.9%
|
189
|
234
|
+21.2%
|
-8.3%
|
|
|
|
|
|
|
|
|
|
TOTAL |
1,793
|
1,736
|
-3.2%
|
+3.8%
|
7,290
|
7,139
|
-2.1%
|
+0.9%
|
Hotel
RevPAR* by segment
December 2002, YTD |
Occupancy Rate
|
Average
Room Rate
|
RevPAR
|
|
(en %)
|
(var. in pts)
|
(var. in %)
|
(var. in %)
|
Business
and Leisure Europe |
63.5%
|
-1.7
|
+2.2%
|
-0.4%
|
Economy
Europe |
73.9%
|
-1.3
|
+4.7%
|
+2.8%
|
Economy
Lodging (in USD) |
65.2%
|
-1.2
|
-1.5%
|
-3.3%
|
* owned, leased and managed
Hotel
RevPAR* by country
December 2002, YTD |
Number
Of Rooms
|
Occupancy Rate
|
Average
Room Rate
|
RevPAR
|
(in local
currency) |
|
(in %)
|
(var. in pts)
|
(var. in %)
|
(var. in %)
|
France |
82,254
|
70.9%
|
-1.1
|
+3.9%
|
+2.3%
|
Germany |
29,487
|
63.0%
|
-2.8
|
+1.6%
|
(1) �2.7%
|
U.K. |
8,820
|
75.0%
|
+1.9
|
-0.8%
|
(2)+1.8%
|
The Netherlands |
5,206
|
74.7%
|
-0.7
|
+3.6%
|
+2.6%
|
Belgium |
5,046
|
70.8%
|
-0.2
|
-1.3%
|
-1.5%
|
Italy |
3,210
|
62.9%
|
-4.0
|
+4.0%
|
-2.2%
|
Hungary |
3,278
|
59.8%
|
-0.6
|
-4.0%
|
-5.1%
|
U.S.A (Business
and Leisure) |
3,481
|
62.6%
|
+0.7
|
-3.2%
|
-2.2%
|
* owned, leased and managed
-
�3.1% excluding new openings
+2.4% excluding new openings
With 150,000 associates in 140
countries, Accor is the European leader and one of the world's largest
groups in travel, tourism and corporate services.
|