Accor looks East for budget growth
Accor’s budget hotel expansion is heading East after announcing it will open its first Ibis in China next month. This hotel will be followed by two other budget properties next year.
The move follows results for the first nine months of this year that showed that its European budget hotels suffered a 2.7% fall in revenue per available room. Upscale and midscale performed worse, however, with a drop of 5.4%.
Despite these negative numbers, the trend is improving with the third quarter showing consolidated sales at the hotels division down just 0.7% compared with 2002. The decline in the second quarter was 3.3%.