Hotel giant blames Brexit jitters for revenue fall in UK regions
French hotel chain Accor has blamed jitters over the UK leaving the European Union for a fall in revenue per room at its hotels in UK cities outside London.
While hotels in the capital saw a 4.3% increase in revenue per available room during the first half of the year, in regional cities its RevPAR fell 2.1%.
Overall in the UK, its RevPAR grew 1.2%.
Announcing an overall 30% rise in pre-tax profits for the first half of the year to a total of €375 million, Accor blamed ‘uncertainties related to Brexit’ for the fall in RevPAR in UK regional cities.
In Europe as a whole, the group’s RevPAR was up more than 4%.
In a statement, Accor said its first half results ‘confirm the Group’s excellent performance in the execution of its objectives’. The group, which owns 39 brands from luxury operators like Orient Express to budget chains such as Ibis, remains on track to make a pre-tax profit of €820m to €850m for the full year, it said.
CEO Sebastien Bazin added: "Once again, Accor reported another semester of solid results, in line with its objectives set for the medium term. Transformed into an asset-light player, the Group is now capitalizing on its growth drivers — strong complementary brands that are leaders in the majority of their markets, a sustained development, leading positions in the most touristic markets and a unique ecosystem for the benefit of the Group’s millions of customers and partner-owners.
"The execution of our plan and our business momentum remain on track to achieve another record year in 2019."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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