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Down 3.9% / Hotel RevPAR by Country |
Paris, November 5, 2003
Consolidated revenues for the first nine months of 2003 were down 5.6%. On a like-for-like basis, the decline was limited to 0.2%. The reported decline of 5.6% broke down as follows:
Hotel revenues at September 30 were down 1.4% like-for-like. The 3.9% reported decline was due to a negative 5.9% currency effect, while the contribution from newly opened hotels added 4%. The third quarter saw an improved performance in the Upscale and Midscale segments, as revenues contracted by 0.7% compared with a 4.4% decline in the second quarter. The improvement was led by solid performances in the United Kingdom and the United States, where revenues rose by 3% and 4.3% respectively. Although adversely affected by a difficult summer season in Europe (-0.4% vs. +0.7% in the second quarter) and especially in France, the Economy hotel segment showed some encouraging signs in the United States, where revenues declined by 1% in the third quarter after a 4.6% decrease in the second quarter. Services Revenues from Services were up 8.7% like-for-like at September 30, nearly on a par with the 8.9% increase reported at June 30. The third quarter was shaped by a return to growth in reported revenues, which rose by 4.9%, thanks to a lessened currency effect. Other businesses Reported revenues from other Group businesses (travel agencies, casinos, restaurants and onboard train services) contracted by 11.1% in the first nine months, due mainly to the sale of a 50% stake in Accor Casinos. Like-for-like, revenues were up 0.7%. 2003 earnings objectives maintained In light of third-quarter results in line with its expectations and a number of programs under way, Accor is maintaining its full-year objective of approximately EUR 500 million in profit before tax.
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Consolidated Sales |
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||||||||||||
|
|
|
2003/02 Reported |
2003/02 Like-for-Like |
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|
2003/02 Reported |
2003/02 Like-for-Like |
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|
2003/02 Reported |
2003/02 Like-for-Like |
|
|
2003/02 Reported |
2003/02 Like-for-Like |
Hotels |
1,136
|
1,104
|
-2.9%
|
+0.2%
|
1,343
|
1,250
|
-6.9%
|
-3.3%
|
1,324
|
1,301
|
-1.7%
|
-0.7%
|
3,803
|
3,655
|
-3.9%
|
-1.4%
|
Upscale and Midscale |
608
|
625
|
+2.7%
|
+1.4%
|
719
|
700
|
-2.8%
|
-4.4%
|
689
|
705
|
+2.3%
|
-0.7%
|
2,017
|
2,029
|
+0.6%
|
-1.4%
|
Economy |
239
|
249
|
+4.3%
|
+1.6%
|
291
|
293
|
+0.8%
|
+0.7%
|
300
|
306
|
+1.8%
|
-0.4%
|
830
|
848
|
+2.2%
|
+0.6%
|
Economy U.S. |
290
|
230
|
-20.5%
|
-3.4%
|
332
|
257
|
-22.6%
|
-4.6%
|
334
|
290
|
-13.2%
|
-1.0%
|
956
|
777
|
-18.7%
|
-3.0%
|
Services |
126
|
111
|
-12.3%
|
+8.4%
|
128
|
120
|
-6.2%
|
+9.4%
|
107
|
112
|
+4.9%
|
+8.3%
|
361
|
342
|
-5.0%
|
+8.7%
|
Other businesses |
405
|
343
|
-15.1%
|
+0.9%
|
447
|
378
|
-15.5%
|
+0.2%
|
386
|
380
|
-1.7%
|
+1.1%
|
1,239
|
1,102
|
-11.1%
|
+0.7%
|
Travel management |
116
|
93
|
-20.2%
|
-7.3%
|
121
|
100
|
-17.2%
|
-9.1%
|
110
|
91
|
-17.2%
|
-6.2%
|
347
|
284
|
-18.2%
|
-7.6%
|
Casinos |
72
|
47
|
-34.4%
|
+4.2%
|
76
|
47
|
-38.3%
|
-1.2%
|
44
|
51
|
+16.1%
|
+0.7%
|
192
|
145
|
-24.4%
|
+1.2%
|
Restauration |
118
|
98
|
-17.0%
|
+8.1%
|
115
|
107
|
-7.4%
|
+8.7%
|
89
|
97
|
+9.4%
|
+10.3%
|
322
|
302
|
-6.3%
|
+8.9%
|
On-board train services |
65
|
63
|
-4.2%
|
-2.3%
|
72
|
72
|
-0.8%
|
-1.5%
|
77
|
75
|
-1.9%
|
+0.6%
|
214
|
210
|
-2.2%
|
-1.0%
|
Other |
33
|
43
|
+29.7%
|
+3.5%
|
63
|
53
|
-16.3%
|
+6.4%
|
67
|
66
|
-2.4%
|
+1.7%
|
163
|
161
|
-1.2%
|
+3.9%
|
TOTAL |
1,667
|
1,558
|
-6.5%
|
+1.0%
|
1,918
|
1,748
|
-8.9%
|
-1.7%
|
1,817
|
1,793
|
-1.3%
|
+0.2%
|
5,402
|
5,099
|
-5.6%
|
-0.2%
|
.
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. |
Marie-Claire Camus Tel. + 33 (0)1 45 38 87 53 accor.com |
Also See: | Accor 2003 Interim Results; Profit Before Tax Down -40.6% / September 2003 |
Accor Reports Hotel Revenues Down 5.0% at June 30, 2003 / Hotel Operating Statistics / Aug 2003 |