Accor Hotels has posted its third-quarter 2016 business activity, which was strong in the majority of the group's markets. Revenue totalled £1,369m, up 1.8% at constant scope of consolidation and exchange rates (LFL), and up 3.0% as reported.
Business in the UK continued to grow strongly (+2.2%). Third-quarter occupancy rates were extremely high at 85%, notably due to the weak British pound, which boosted the foreign short-stay leisure sector and led to the British favoring the UK as a main holiday destination. Trends remain mixed, with RevPAR contracting 2%in London but improving strongly in the rest of the country (+5%).
Se´bastien Bazin, Chairman and CEO, said, 'During the third quarter, AccorHotels has once again delivered a robust performance that is even more remarkable given the particularly unfavorable situation in France during the summer following the terrorist attacks.
'With the integration of Fairmont, Raffles and Swisso^tel during the period, the Group has established itself as a leading player in the global luxury hotel business.'
Bazin continued, 'Our brands are attractive, our development is dynamic and our active management strategy for the HotelInvest property portfolio continues to deliver results.
'Thanks to these strengths, we have been able to hone our outlook for 2016 and consolidate the significant improvement in our operational and financial performance.'