“Strategic transformation” boosts AccorHotels

Company posts 9% profit rise after companywide changes
AccorHotels has posted a 9% increase in profits after benefiting from a companywide transformation.
The French hotel company, which has 500,000 rooms in its portfolio and includes brands like Novotel, Sofitel and Pullman, reported a net profit of €244 million, up from €223 million. Revenue rose 2.3% to €5.6 billion.
Earnings before interest and taxes increased to €665 million, beating average analyst estimates.
“AccorHotels delivered an outstanding performance in 2015: growth in revenue, a big improvement in earnings and a more robust financial position,” Sebastien Bazin, chairman and chief executive, said. “The momentum driven by the strategic, operational and cultural transformation and the quality of the performance and motivation of our teams are clearly producing results in all of our businesses.”
The company said that growth in Europe had been strong but that the French market had been affected by the Paris terrorist attacks last year.
Bloomberg / TTG Digital