Accor"s Revenue Growth Slows In Q3

　　Accor’s revenue growth for the third quarter of 2012 was 1.3% on a like-for-like basis, down from 3.6% during the first half of this year.

　　This brought like-for-like revenue growth for the first nine months of 2012 down to 2.8%. Systemwide management and franchise fees were up 12.9% in the third quarter, boosted by the addition of 26,400 guestrooms over the first nine months of the year, 87% of which under management and franchise contracts.

　　Accor, Courcouronnes, France, said conditions were worsening in the recession-hit countries of Southern Europe. Meanwhile in France, the third quarter like-for-like revenue decreased by 2.4% in the upscale and midscale segments and was down 1.7% in the economy segment. While Paris performed well in July and September, results in the rest of France were mixed.

　　Germany remains Accor’s most performing market in Europe thanks to a favorable trade show calendar, third quarter revenue was up 4.1% like-for-like in the upscale and midscale segments and 3.6% like-for-like in the economy segment.

　　In the U.K., third quarter like-for-like revenue growth stood at 4.9% in the upscale and midscale segments and 6% in the economy segment, boosted by the London Olympics.

　　Revenue in the Asia Pacific region rose by 4.1% in the upscale and midscale segment and by 2.3% in economy hotels, with demand grew very quickly in all of the region’s top markets except China. In Latin America, revenue was up 8.5% in the upscale and midscale segments and 11.3% in economy. In Brazil, the strong growth in demand, at a time when the hotel supply remained stable, drove a sharp increase in average room rates in both the upscale, midscale and economy segments.

　　Looking ahead, Accor confirmed its 2012 full-year EBIT target of €510 million to €530 million (US$665 million to US$691 million).