Accor sees revenue rise despite shareholder concern

Accor has posted a revenue increase of 4.8 per cent for the six months to 30 June to €1.9 billion.

The French hotel giant banked net profits of €141 million in the first half of the year, after increasing its hotel estate by 149 hotels, taking its total number to nearly 4,900 worldwide.

Accor credited its performance in the first half to contributions from its acquisitions of Mantra and Movenpick.

Revenue per available room increased 2.9 per cent over the period, around half the 5.9 per cent it posted in the same period last year.

Chief executive Sébastien Bazin said the company would now capitalise on “its growth drivers” after divesting its real estate in February last year.

Accor’s shares have trailed its rivals with shareholders concerned over surprise announcements such as a new marketing strategy that aims to position the company as a lifestyle brand covering sectors from co-working to entertainment in a an effort to compete against industry disrupters such as Airbnb and Indian start-up Oyo.