Accor hotel revenue declines 10% in 2009
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Accor has reported that its hotel revenue declined 10.1% to EUR5.19 billion (US$7.44 billion) in 2009, compared with 5.75 billion in 2008. However a 1.4% rise in its Prepaid Services unit led to the company’s overall revenue for the year declining 7.9% to 7.07 billion. The company’s Economy hotels (outside the US) saw the best performance, with revenue declining just 6.1% over the year, compared to an 11.5% decline in the Upscale and Midscale sectors. Full-year target for operating profit has been confirmed at between EUR400-450 million.
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