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A happy ending to 2014 for Accor

After a satisfactory fourth semester 2014, the group raised its target for operating results to nearly 600 million euros.

Accor announces turnover of 5,454 million euros for 2014, up 3.8% at constant scope of consolidation and exchange rates. It is driven by 4.8% growth in the second trimester, followed by 5.1% growth in the group's revenue in the last quarter, like-for-like.

In the fourth quarter 2014, Accor posted turnover of 1.4 billion euros. On the whole, the revenue of  HotelInvest, its division dedicated to asset management, reached 1.2 billion euros, up by 3.8% like-for-like. At end December, the portfolio of the structure has 1,354 hotels, 86% of which are in Europe and 96% on the Economy and Midscale segments. The zone NCEE (Northern, Central and Eastern Europe) represents 45% of turnover and shows 4.5% growth using a constant scope, versus 8.4% for the MMEA (Mediterranean, Middle East, Africa), 5.3% for the Americas and 2.7% for Asia-Pacific. In the 4th quarter, HotelInvest restructured 10 hotels, of which 7 were previously operated under leases and three were owned .

HotelServices ends the quarter with revenues up 341 million euros, up 8% like-for-like. the division reported 3 billion euros in business volume for a 1.2% increase. Very strong growth may be observed throughout the geographic areas. France was driven in particular by the organisation of the Paris Motor Show and the SIAL Food Fair. On the period, the group developed 65 hotels and 9,743 rooms, 86% of which are under franchise and management. At end December, the supply had 3,717 hotels and 482,296 rooms, 28% of which are under franchise and 72% of which are under management contracts, including the HotelInvest portfolio. 

Further to strong growth on all the group's markets in 2014 and a particularly satisfactory fourth quarter, Accor revised its EBIT target for 2014 upward to nearly 600 million euros.

On January 1, 2014, Accor was the 6th hotel group worldwide in terms of number of rooms, according to the ranking realized each year by MKG Hospitality, hospitality consulting firm founded by Georges Panayotis. At that time it had 3,576 hotels worldwide for 461,719 rooms. (Read our report)

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