Accor Group's business activities, including subsidiary hotel turnover and leases in franchise and management contracts (for the lodgings portion), increased in Semester 1 of 2013 by 6.7% to 5.6 billion Euros.Turnover in the first half of 2013, which corresponds to subsidiary turnover and franchise and management fees and deductibles, amounts to 2,694 million Euros. It is down nearly 1% as reported, due to changes in scope after the handover, exchange rate effects and development. But it was up 1.8% on a comparable basis. Fees were up sharply 16%, an indicator which accentuates the change to the Asset Light model.Development has contributed positively to sales with 90 million Euros (+3.3%), 9,940 additional rooms (77 hotels), 80% in franchise and management contracts.The change over the semester was favorable due to the resilience of the European market, thanks to strong events in France (Airshow), Germany (Bauma) and the UK (reopening parks exhibitions in London ), and the pressure on developing countries. Note that China and Australia have experienced a moment of weakness in the first semester.The outlook remains positive in the second semester, without visibilie turnover for another 60 days.
France
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