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| Paris, May 6, 1999 - Accor
consolidated sales for the 1999 first quarter posted EUR 1,288 million
(FRF 8,446 million), an increase of 4.2% (EUR 52 million, ie FRF 338 million)
on a published basis compared to the end of March, 1998 (EUR 1,236 million,
ie FRF 8,108 million).
This increase breaks down as follows :
The negative impact of currency fluctuations EUR 67.5 million (FRF 443 million), includes EUR 48.6 million (FRF 319 million) due to the Brazilian real devaluation. As of March 31, 1999, Hotel sales increased by 12.9% , excluding the 2.6% negative impact of currency fluctuations. This evolution takes into account the new consolidation of Frantour and Good Morning. Excluding the currency changes, business and leisure hotel sales increased by 13.1%, economy hotels by 19.3% , and Motel 6 by 5.6%. Travel agency sales (net revenue) increased by 13% excluding 4.8% negative currency impact, including +18.4% in North America and +10.1% in Europe. Car rental sales increased by 16.5% excluding a 1% negative impact of currency fluctuations. Corporate services sales increased by 14.8% excluding currency fluctuations. Changes in currencies represent a negative impact of EUR 19.4 million (FRF 127 million), mainly due to the Brazilian real devaluation. Casino activity sales increased by 26.2% during the 1999 first quarter, a 10.5% increase on a constant perimeter basis, taking into account the integration of the Saint-Raphaël casino (South of France). Restaurant sales decreased by 26.8% (including a 15% negative currency impact) explained by disposals of activities. On a constant perimeter and currency basis, restaurant sales increased by 7.3%. Onboard train services sales increased by 4.9% on a constant perimeter and currency basis, and slightly decreased on a published basis, including the disposal of the train cleaning activity. From now on, the "other" account includes sales of Frantour travel agency and tour operating activities. Activity volume, encompassing all financial flows managed by Accor, totaled EUR 3,799 million (FRF 3,905 million) as of March, 1999, an increase of 8.3% excluding currency changes. Activity volume chiefly comprises :
|
| (in millions) |
|
|
|
|||
|
|
|
1999/1998
|
currency
|
|||
|
1998
|
1999
|
1998
|
1999
|
basis
|
||
| Business and leisure |
396
|
438
|
2,596
|
2,872
|
+10.6%
|
+4.6%
|
| Economy |
142
|
168
|
931
|
1,103
|
+18.5%
|
+6.7%
|
| Motel 6 |
139
|
142
|
916
|
928
|
+1.3%
|
+5.6%
|
| sub-total Hotels |
677
|
748
|
4,443
|
4,903
|
+10.3%
|
+5.3%
|
| Travel Agencies |
90
|
97
|
591
|
639
|
+8.2%
|
+14.6%
|
| Car Rental |
81
|
93
|
529
|
611
|
+15.5%
|
+15.1%
|
| Corporate Services |
88
|
82
|
579
|
537
|
-7.2%
|
+13.5%
|
| Casinos |
30
|
37
|
194
|
245
|
+26.2%
|
+10.5%
|
| Restaurants |
159
|
117
|
1,046
|
765
|
-26.8%
|
+7.3%
|
| Onboard train services |
79
|
78
|
518
|
509
|
-1.6%
|
+4.9%
|
| Other |
32
|
36
|
208
|
236
|
+13.5%
|
+14.1%
|
| TOTAL |
1,236
|
1,288
|
8,108
|
8,446
|
+4.2%
|
+7.4%
|
| (in millions) |
|
|
|||
|
|
|
1999/1998
|
|||
|
1998
|
1999
|
1998
|
1999
|
||
| Business and leisure |
642
|
650
|
4,208
|
4,265
|
+1.4%
|
| Economy |
145
|
164
|
953
|
1,073
|
+12.5%
|
| Motel 6 |
140
|
142
|
919
|
931
|
+1.3%
|
| sub-total Hotels |
927
|
956
|
6,080
|
6,269
|
+3.1%
|
| Travel Agencies |
1,113
|
1,154
|
7,302
|
7,572
|
+3.7%
|
| Car Rental |
81
|
93
|
529
|
607
|
+14.7%
|
| Corporate Services |
1,463
|
1,319
|
9,598
|
8,654
|
-9.8%
|
| Casinos |
30
|
37
|
194
|
245
|
+26.1%
|
| Restaurants |
171
|
120
|
1,121
|
789
|
-29.6%
|
| Onboard train services |
78
|
77
|
512
|
505
|
-1.4%
|
| Other |
42
|
43
|
278
|
281
|
+1.2%
|
| TOTAL |
3,905
|
3,799
|
25,614
|
24,922
|
-2.7%
|
|
|