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at June 30, 2003 Hotel Operating Statistics
Paris, July 31, 2003
*At comparable scope of consolidation and exchange rates. Accor consolidated revenues were down 7.8% at June 30, 2003, largely because of a negative currency effect. Excluding the currency effect and changes in the scope of consolidation, the decline was limited to 0.4%. Hotels Hotel revenues for the first half declined 1.7% like-for-like. On a reported basis, they decreased by 5.0% because of a negative 6.8% currency effect. New hotel openings contributed 4.3% to revenue growth. In general, the second quarter saw a sharp decline in business, especially in Upscale and Midscale hotels (down 4.4%) and in Economy Hotels US (down 4.6%). Revenues from Economy Hotels Europe held up better (up 0.5%), especially in France, where the increase was 3.4%. Services First-half revenues from Services increased by 8.9% like-for-like. The reported decline of 9.2% was due to currency devaluations in Latin America. In the second quarter, revenues rose by 9.4%, an improvement on the first quarter�s 8.4% increase. Other businesses Reported revenues from other Group businesses (travel agencies, casinos, restaurants and onboard train services) contracted by 15.3% over the period, mainly due to the sale of a 50% stake in Accor Casinos. Outlook In an unprecedented environment for the tourism industry, Accor demonstrated its resilience, with like-for-like revenues remaining virtually stable. However, slow business, particularly in the second quarter, combined with the negative currency effect during the period will be reflected in the first-half results, to be published on September 10. With its balanced portfolio of businesses, a consistent marketing strategy focused on increasing market share, and a more selective approach to investments, Accor will be in a good position to take full advantage of the recovery. |
| Hotel RevPAR
by country
2003 Half Year, YTD |
of rooms (1) |
|
|
Reported basis Subsidiaries and managed |
Like-for-like basis, Subsidiaries only |
|
| (in local currency) |
(in %)
|
(chg. in pts)
|
(var. en %)
|
(var. en %)
|
(chg. in %)
|
|
| France |
82,570
|
67.1%
|
- 2.5
|
+ 2.2%
|
- 1.4%
|
+ 0.7%
|
| Germany |
30,313
|
60.5%
|
- 1.2
|
- 2.2%
|
- 4.0%
|
- 3.7%
|
| U.K. |
9,841
|
70.1%
|
- 3.1
|
+ 5.4%
|
+ 0.9%
|
- 2.0%
|
| The Netherlands |
5,366
|
65.9%
|
- 9.1
|
- 5.2%
|
- 16.6%
|
- 15.3%
|
| Belgium |
5,221
|
66.5%
|
- 2.8
|
- 2.4%
|
- 6.4%
|
- 3.8%
|
| Italy |
3,411
|
57.5%
|
- 7.3
|
- 0.3%
|
- 11.5%
|
- 8.9%
|
| Spain |
3,381
|
66.5%
|
-6.8
|
- 4.9%
|
- 13.8%
|
+ 2.0%
|
| Hungary |
3,277
|
52.5%
|
- 3.3
|
- 4.3%
|
- 10.0%
|
- 10.5%
|
| USA (upscale and midscale) |
3,764
|
61.8%
|
- 0.9
|
+ 1.4%
|
- 0.1%
|
- 2.6%
|
.
.
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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, with two major international activities:
services to corporate clients and public institutions: 13 million people in 32 countries use a broad range of services (food vouchers, people care and services, incentive, loyalty programs, events) engineered and managed by Accor. |
| Contact:
Accor Jacques Charbit Marie-Claire Camus +33 (0) 1 45 38 87 53 +33 (0) 1 45 38 84 85 accor.com |
| Also See: | With a View to Efficiency and Savings, Accor Hotels Revamps Europe-Africa-Middle East Region / May 2003 |