The leading hotel group in Europe, with Sébastien Bazin at the helm as of the end of August, experienced lively activity in all of its key markets during the third quarter of 2013. 18.2% of turnover growth came from management fees and asset-light franchise openings. Thus Accor has closed the period with a 1.4 billion euro turnover, having risen 8.3%. The improvement concerns the mid-to upscale segment as well as the economy segment, with turnover respectively rising 3.6% and 4.2% like-for-like.During the first nine months of the year, the group's revenues are also up 2.5%, thanks to the strong growth in revenue related to management fees and franchising. Due to its asset-light development and a favorable business, Accor was able to improve its business volume by 4.2% over the period to 8.6 billion euros, despite the negative impact of exchange rates in the third quarter. Between January and September 2013, the group opened 141,000 rooms, 82% under asset-light.Thanks to the good levels of activity in Europe and growth in emerging markets, Accor remains confident for the end of the year. In this context and in spite of unfavorable exchange rates, it confirmed its 2013 target of having an operating profit between 510 and 530 million euros.
France
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