Accor reports record results in 2014

Tom Davis Wednesday, 18 February 2015, 10:22Last Updated: Wednesday, 18 February 2015, 10:22

1 minute read

French hotel group Accor has reported record financial results for the full year in 2014.

The group’s net profit rose 77% to €223m (£164.67m) compared with the same time last year, while growth in revenue was up 3.8% to €5.454m (£4.02m).

Accor has also announced that its ownership and investment arm, HotelInvest, has continued to strengthen its asset portfolio, completing the sale and acquisition of 20 hotels in the UK and Ireland.

Sébastien Bazin, chairman and CEO of Accor, said: “The in-depth transformation being carried out by Accor started to pay off in 2014, with the group posting excellent results in both its businesses – HotelServices and HotelInvest – and strengthening its leadership position.

“In 2015, the economic environment is expected to continue to vary significantly from one region to another.”

The group announced plans in October last year to invest £177m in an overhaul of its digital offering. Accor also acquired a 36.6% stake in boutique hotel brand Mama Shelter.