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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:
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
.
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Like-for-like (1) |
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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%
|
.
Hotel RevPAR
by market segment
2004 First Quarter, YTD |
|
|
reported basis Subsidiaries and managed (1) |
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 |
of Rooms (1) |
|
|
reported basis Subsidiaries and managed (1) |
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%
|
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.
+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 |