French hotel group Accor has reported a solid performance during the first quarter of 2012, with an increase in like-for-like revenue of 4.5%.
Growth in revenue across the company's 4,400 hotels and 530,000 rooms in 92 countries was driven by an increase in room rates across all segments and a rise of 22.2% in management and franchise income.
The first quarter saw record expansion, with the opening of 7,720 rooms in 56 hotels over the period. The vast majority (90%) were under management and franchise agreements, while the rest were owned or leased.
Accor plans to open a total of 40,000 new rooms worldwide in 2012.
In the UK, like-for-like revenue growth of 1.4% was recorded in the upscale and midscale hotels and 5% in the economy properties. Like-for-like average room rates across the country were up by 0.5% to £79 in upscale and midscale hotels, while economy hotels reported a drop of 0.6% to £44.
Business was particularly strong in London, with close to record occupancy rates of 79.6% in the upscale and midscale and 83.7% in the economy segments.
By Janet Harmer
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