Hotel operator Accor saw strong revenue growth in the regional unit covering the Middle East in the first half of 2014, a period during which it opened 92 hotels around the world.
Its overall revenue per available room (RevPAR) grew by 7.9% to €55 (US $74) in the Mediterranean, Middle East, Africa (MMEA) region. Occupancy rates grew by three percentage points to 66.3% while average room rates were up 3% to €83 (US $112)
Meanwhile, 19% of the 12,284 rooms it added during the first half of the year were in MMEA
As of June 30, the company had 348 hotels across MMEA, with a total of 52,185 rooms. Of the hotels, 115 were managed, 83 were franchised and 150 were owned and leased.
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Globally, revenues were up 2.8% on a like-for-like basis to €2593 million (US $3506 million), although they were down 1.8% as reported.
“Accor’s saw good momentum in the first half despite a French market that continued to be unfavourably impacted by changes in tax legislation,” said Accor chairman and CEO Sébastien Bazin.
“Hotelservices [the group’s hotel operator and franchiser unit] pursued its expansion in fast-growing regions and Hotelinvest [the group’s hotel owner and investor unit] strengthened its position as Europe’s leading hotel investor with the recently completed acquisition of 97 hotels in Germany, Switzerland and the Netherlands.”
In June, the company revealed plans to open the largest Ibis hotel in the Middle East, with Dubai World Trade Centre appointing the company to operate a 588-room property which will open in the first quarter of 2016.
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