Hotel Online  Special Report



advertisement

-
Accor Reports 2002 Hotel Sales Declined 0.3%,
Sales for Economy Hotels US Down 4.2%; 
YTD Occupancy and RevPAR by Country
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

    2002/01

    Reported

    Change
    2002/01

    Like-for-Like 

    2001
    2002
    Change

    2002/01

    Reported

    Change
    2002/01

    Like-for-Like 

    2001
    2002
    Change

    2002/01

    Reported

    Change
    2002/01

    Like-for-Like 

    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

    2002/01

    Reported

    Change
    2002/01

    Like-for-Like 

    2001
    2002
    Change

    2002/01

    Reported

    Change
    2002/01

    Like-for-Like 

    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

    1. �3.1% excluding new openings

    2. +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.

    ###

    Contact:
    Jacques Charbit 
    Marie Claire Camus
    Tel. + 33 (0)1 45 38 87 53 
    Tel. + 33 (0)1 45 38 84 85
    accor.com


     
    Also See Accor Reports Consolidated Sales Up 4% in 2001 / Hotel RevPAR by Country / Jan 2002 
    Accor's 2001 Earnings Up; Geographic Balance and Diversified Nature of Portfolio Offset Negative Impact of Luxury Hotels and US Demand / March 2002


    To search Hotel Online data base of News and Trends Go to Hotel.Online Search

    Home | Welcome! | Hospitality News | Classifieds | Catalogs & Pricing | Viewpoint Forum | Ideas/Trends
    Please contact Hotel.Online with your comments and suggestions.