Hotel Online  Special Report


advertisements

.

 Accor Reports Hotel Occupancy, RevPAR by
Market Segment and Country for 1st Qtr 2004
Paris, April 28 2004. - Consolidated revenues rose 2.6% in the first quarter of 2004. Excluding the currency effect and changes in the scope of consolidation, growth was 4.3%, indicating that the improvement observed since the the second half of 2003 is gathering momentum. 

The 2.6% rise in reported revenues breaks down as follows: 

  • Like-for-like growth: + 4.3%
  • Business expansion: + 2.3%
  • Currency effect: - 2.9%
  • Asset disposals: - 1.2%
Hotels

Hotel revenues expanded 4.2% like-for-like. The reported increase of 2.5% includes the 2.6-point positive impact of new openings and the 3.5-point negative dollar effect.

Like-for-like revenues from Upscale and Midscale Hotels rose 4.9%, reflecting robust 10.5% growth in the United Kingdom and a strong 18.2% rise in Sofitel revenues in the United States. Revenues from this segment in France and Germany inched up 1.0%. 

Revenues from Economy Hotels rose 4.0% like-for-like in France as well as in the whole of Europe, with increases of 8.0% in the United Kingdom, 14.2% in Spain, 8.1% in Belgium and 1.1% in Germany. Economy Hotel revenues in the United States expanded 2.3% like-for-like.

Services

First quarter revenues from Services increased 10.4% like-for-like, led by a sustained growth of 12.7% in Latin America and 8.4% in Europe. The softening of currency impact due to devaluation of Latin American currencies lessened the adverse currency effect, leading to 9.3% revenue growth on a reported basis.

Other businesses

Revenues from the other businesses rose 0.7% on a reported basis and 2.7% like-for-like.

Revenues for the first quarter of 2004 confirm that the recovery which began in the second half of 2003 is taking root. Although France and Germany are taking longer to recover than other markets, overall revenue performance for the period is encouraging.

First quarter 2004 revenues up 4.3% like-for-like

(in EUR millions)
2003
2004
% change (reported)
% change (like-for-like*)
Hotels
1,098
1,125
+2.5%
+4.2%
Services
111
121
+9.3%
+10.4%
Other businesses
349
352
+0.7%
+2.7%
Total Group
1,558
1,598
+2.6%
+4.3%
*At comparable scope of consolidation and exchange rates.

.

First Quarter
First Quarter
Sales reported 2003
Sales reported 2004
Change 04/03 reported
Change 04/03
Like-for-like (1)
HOTELS  
 
 
 
 
  Upscale and Midscale
609,639
650,050
6.6%
4.9%
  Economy (excl.US)
258,190
273,001
5.7%
4.1%
  Economy US
230,191
202,220
-12.2%
2.3%
Sub-total hotels 
1,098,020
1,125,272
2.5%
4.2%
       
SERVICES  
110,854
121,153
9.3%
10.4%
       
Other businesses  
  Travel Agencies
92,699
87,714
-5.4%
-3.4%
  Casinos
51,281
53,341
4.0%
-0.5%
  Restaurants
99,571
109,504
10.0%
9.0%
  Onboard Train Services
62,679
58,669
-6.4%
2.7%
  Other 
43,012
42,293
-1.7%
5.1%
Sub-total other businesses 
349 242
351,521
0.7%
2.7%
           
Total   
1,558,116
1,597,946
2.6%
4.3%
(1) At comparable scope of consolidation and exchange rates

.

Hotel RevPAR by market segment 
2004 First Quarter, YTD
Occupancy Rate
Average Room Rate
RevPar
reported basis
Subsidiaries and managed (1)
RevPar
excluding expansion
Subsidiaries
(2)
 
(in %)
(chg. in pts)
(chg. in %)
(chg. in %)
(chg. in %)
Upscale and Midscale Europe
57.2%
+ 1.3
-1.8%
+ 0.5%
+0.1%
Economy Europe (excl. US)
65.8%
+ 0.8
+ 1.5%
+ 2.7%
+2.8%
Economy US (in $)
59.8%
+ 0.1
+ 1.0%
+ 1.2%
+1.1%
.
Hotel RevPAR by country 
2004 First Quarter, YTD
Number 
of Rooms (1)
Occupancy Rate
Average Room Rate
RevPar
reported basis
Subsidiaries and managed (1)
RevPar
excluding expansion
Subsidiaries
(2)
(in local currency)  
(in %)
(chg. in pts)
(chg. in %)
(chg. in %)
(chg. in %)
France
82,394
63.4%
+ 0.6
+ 0.7%
+ 1.7%
+ 2.0%
Germany
30,891
58.9%
+ 0.9
- 4.0%
- 2.4%
- 2.0%
U.K.
11,125
70.4%
+ 2.0
+ 5.3%
+ 8.5%
+ 6.2%
The Netherlands
5,574
57.3%
- 2.7
- 5.3%
- 9.6%
- 8.7%
Belgium
5,376
62.0%
+ 1.6
- 2.1%
+ 0.5%
+ 3.8%
Spain
3,926
64.7%
+ 3.4
- 8.1%
- 3.1%
+ 3.1%
Italy
3,563
52.4%
- 0.9
- 3.5%
- 5.1%
- 2.4%
Hungary
3,117
45.4%
+ 7.7
+ 0.5%
+ 21.1%
+ 21.0%
USA (Upscale and Midscale)
3,764
67.6%
+ 7.3
+ 3.0%
+ 15.5%
+ 17.2%
(1) Subsidiaries (owned and leased) hotels and hotels under management contract, in local currency
(2) Subsidiaries hotels, on same perimeter and currency basis

With 150,000 people 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
+33 (0) 1 45 38 87 53 
accor.com

 
Also See: Accor Reports 2003 Revenues Down 4.3%; Opens 170 New Hotels / Hotel Operating Statistics / January 2004


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.