AccorHotels revenue jumps 4.1% following restructuring

Following its restructuring and re-brand this year, AccorHotels has reported a 4.1% like-for-like revenue growth to €2.7 billion (£1.9 billion) in the first half of 2015. 

The firm’s latest financial results for the first half also reported that earnings before interest and taxes (EBIT) were up 8% on a like-for-like basis to €263m (£184.8m).

AccorHotels, which also owns the Ibis, Pullman, Mercure and Novotel brands, said there was strong growth across Europe, except France, where growth was “moderate”. Total net profit was up 68% to €91m (£68.9m).

Sébastien Bazin, chairman and CEO, said that the restructuring of the property portfolio at HotelInvest, the swift rollout of its new digital plan, selective hotel development, and the revamping of its food and beverage offering all helped to secure its strong performance.

He said: “The benefits from these initiatives have contributed to our good results in the first half, which include a significant increase in revenue and EBIT, strong cash flow generation, more robust positions in the fastest-growing markets and an improvement in the value of our hotel assets.”