Global hotel operator, Accor has reported its annual financial results for 2016 showing that revenue rose by 0.9% to £4.79m (+2.2% LFL), EBIT up 4.6% to £593m (+3.8% LFL), and Net profit was up 8.1% to £266.6m.
The group saw robust growth in most of the its key markets, with the UK arm of the business reporting revenue growth of 4.3% for the year.
Accor reported record development with 81,042 rooms (347 hotels), of which 89% are under management contracts.
During the period, Accor acquired Fairmont Raffles Hotels International Group, and onefinestay, the world leader in luxury serviced home rentals, and John Paul, world leader in concierge services.
Se´bastien Bazin, Chairman and Chief Executive Officer of AccorHotels, said, AccorHotels has posted an excellent performance for 2016 in a challenging environment, in particular with record levels of EBIT and numbers of hotel rooms opened.
'Thanks to the efforts made by our teams around the world, we have implemented strong operational levers, which enabled growth in earnings to outpace that in revenue.
'We have ventured out to conquer new markets and offer new services thereby consolidating our leadership position and opening up new horizons for our clients.
'Carrying out our project to turn HotelInvest into a subsidiary in 2017 will give us significant headroom to seize the numerous opportunities provided by the rapid transformation of our industry.'