The hotel group ended the year with a turnover of 5.53 billion euros on a constant basis, for growth by 2.7% over last year, and is confident about 2014
Accor renewed profitability in 2013. The first French hotel group posts net profits of 126 million euros on the period, versus a net loss of 599 million euros in 2012. Due to sales of properties and restructuring of leasing contracts, its operating profits are higher than expected, 536 million euros, or 5.3% more than the previous year on a constant basis.
The group's turnover rang in at 5.53 billion euros, up 2.7% with a constant perimeter and exchange. Accor posts solid growth on its key European markets, thanks to strong activity in emerging countries, which compensates for the still delicate situation in Southern Europe. Turnover from the midscale and economy segments show increases by 2.9% and 2.4% respectively on a like-for-like basis, due in particular to the increase in demand and year-end prices as well as organic growth of management and franchise revenues (+14.7%).
Moreover, hotel asset management operation in 2013 made it possible to reduce the group's net debt by 331 million euros and decrease the adjusted net debt by 408 million euros. On the entire year, Accor sold 23 hotels, including the Sofitel Paris Le Faubourg for 113 million euros.
"Our results in 2013 are solid, the Group's financial situation is healthy, the teams are mobilized and are deploying the new strategy at a steady rate. While the economic context remains uncertain in some areas, we generally benefit from the global recovery and the strength of our brands. In 2014, innovation, digital and brands lie at the heart of HotelServices priorities. Moreover we are beginning to unfurl the HotelInvest strategy. The teams are organized around these two businesses, with dedicated reporting, and their own goals," declared Sébastien Bazin, President and CEO Accor group.
From 2014, Accor will communicate its results according to its new economic model that is divided between HotelServices, for its activity as hotel operator, and HotelInvest, for its role as hotel owner and investor. In 2013 the entities realized turnover by 1.21 billion euros for HotelServices and 4.94 billion euros for HotelInvest.
The group's turnover rang in at 5.53 billion euros, up 2.7% with a constant perimeter and exchange. Accor posts solid growth on its key European markets, thanks to strong activity in emerging countries, which compensates for the still delicate situation in Southern Europe. Turnover from the midscale and economy segments show increases by 2.9% and 2.4% respectively on a like-for-like basis, due in particular to the increase in demand and year-end prices as well as organic growth of management and franchise revenues (+14.7%).
Moreover, hotel asset management operation in 2013 made it possible to reduce the group's net debt by 331 million euros and decrease the adjusted net debt by 408 million euros. On the entire year, Accor sold 23 hotels, including the Sofitel Paris Le Faubourg for 113 million euros.
"Our results in 2013 are solid, the Group's financial situation is healthy, the teams are mobilized and are deploying the new strategy at a steady rate. While the economic context remains uncertain in some areas, we generally benefit from the global recovery and the strength of our brands. In 2014, innovation, digital and brands lie at the heart of HotelServices priorities. Moreover we are beginning to unfurl the HotelInvest strategy. The teams are organized around these two businesses, with dedicated reporting, and their own goals," declared Sébastien Bazin, President and CEO Accor group.
From 2014, Accor will communicate its results according to its new economic model that is divided between HotelServices, for its activity as hotel operator, and HotelInvest, for its role as hotel owner and investor. In 2013 the entities realized turnover by 1.21 billion euros for HotelServices and 4.94 billion euros for HotelInvest.
France
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