PARIS, January 25 /PRNewswire-FirstCall/ -- (in Euros million) 2004 2005 % change % change IFRS IFRS (reported) (like-for-like)(x) Hotels Upscale and Midscale 2,787 2,864 +2.8% +2.8% Economy 1,247 1,367 +9.6% +4.1% Economy US 922 964 +4.5% +5.1% Services 518 630 +21.7% +14.1% Other businesses 1,590 1,797 +12.9% +5.0% Total Group 7,064 7,622 +7.9% +4.7% (x) Based on constant scope of consolidation and exchange rates Accor's consolidated revenue rose by 7.9% to EUR7,622 million for the year ended December 31, 2005. At constant scope of consolidation and exchange rates, the increase was 4.7%. Expansion added 4.5% to revenue growth while asset disposals had a negative 2.5% impact. During the year, 182 hotels (23,632 rooms) were opened and 90 hotels (11,626 rooms) were closed, increasing the portfolio to 4,065 hotels (475,433 rooms) at December 31. Of the new openings, 75% were units operated under non-capital intensive agreements (management or franchise contracts) and 25% were owned or leased properties. The currency effect had a positive 1.2% impact on revenue growth, primarily due to the appreciation of the Brazilian real. Fourth quarter For the fourth quarter, revenue was up by 10.0% to EUR1,993 million. Like-for-like, the increase was 4.1%, compared with a sharp 5.1% rise in fourth-quarter 2004. Fourth-quarter 2005 also saw strong like-for-like growth in the US Economy segment (up 6.3%) and in Services (up 16.9%). Upscale and Midscale Hotels Upscale and Midscale hotel revenue increased 2.7% like-for-like in the fourth quarter, in line with the trend over the first nine months of the year. For the year, segment revenue rose 2.8%, both as reported and like-for-like. Business was very satisfactory in North America, Latin America and Asia, with like-for-like revenue increasing by 7.3%. In the United States in particular, revenue was up 10.7% like-for-like. Growth was more moderate in Europe, rising 1.5% like-for-like. In France, revenue increased by 1.4% like-for-like, reflecting a slight decline in the occupancy rate and effective management of average room rates. In a still lackluster business environment, revenue in Germany rose 1.3% like-for-like, as the occupancy rate improved without any increase in the average room rate. In the United Kingdom, revenue was up a solid 4.4% like-for-like despite the impact of July's terrorist attacks. Economy Hotels (outside the United States) The Economy Hotel segment confirmed its solid performance, with full-year revenue growth of 9.6% as reported and 4.1% like-for-like. The like-for-like increase was 3.6% in France and 3.5% in the rest of Europe. Expansion added 5.1%, or EUR63 million, to growth, with 64 hotel openings (8,064 rooms), including 10 Ibis in Spain. Economy Hotels in the US RevPAR rose a sharp 5.6% like-for-like during the year, led by a 4.3% increase in average room rates and a 0.8-point rise in occupancy rates. Revenue excluding the currency effect was up 5.1%. The faster growth in revenue in the fourth quarter (up 6.3% like-for-like) was especially apparent in Louisiana, Texas, Alabama and California. Implementation of the Red Roof Inn renovation program continued, with 92 hotels successfully upgraded as of December 31 and 22 currently in renovation. Services For the year, revenue in the Services business was up 14.1% like-for-like. The strong growth was due to a combination of especially positive factors, including favorable legislation and new product launches. In Europe, revenue rose 10.1% like-for-like, with, in particular, increases of 22.0% in the United Kingdom and 14.8% in Belgium. Latin America posted a sharp 21.0% increase in like-for-like revenues. In Argentina, Mexico and Venezuela, revenue benefited from highly favorable legislation. Thanks to the appreciation of the Brazilian real, exchange rates had a positive 4.5% impact on full-year revenue growth. Other businesses For the year, travel agency revenue increased 4.8% as reported and 3.3% like-for-like. In the Casinos business, revenue for the 12 month period was up 1.0% like-for-like and 47.7% as reported, following the creation of Groupe Lucien Barrière in December 2004. Full-year revenue from the restaurant business rose 6.9% like-for-like and 13.0% as reported. Revenue generated by onboard train services increased 6.1% like-for-like and 1.1% as reported. Conclusion The Group's overall good performance was led by the Services business, the US Economy Hotels segment, and Economy Hotels (outside the US). The Upscale and Midscale Hotels segment in Europe remains sluggish. With revenue in line with forecasts, Accor confirms its full-year objectives of EUR590-610 million in profit before tax and approximately EUR300 million in net profit, as it announced when the 2005 interim results were released. With 168,000 people in 140 countries, Accor is the European leader and one of the world's largest groups in travel, tourism and corporate services, with two major international activities: - hotels: over 4,000 hotels (more than 470,000 rooms) in 92 countries, casinos, travel agencies, and restaurants; - services to corporate clients and public institutions: 19 million people in 36 countries use a broad range of services (food vouchers, people care and services, incentive, loyalty programs) engineered and managed by Accor. Contacts Eliane Rouyer Director Anthony Pallier Investor Relations Investor Relations Tél : +33(1)45-38-86-26 Tél : +33(1)45-38-86-33 Further information on Accor is available on accor.com Quarter 1 Quarter 2 In Euros Revenues Revenues Revenues Revenues Revenues Revenues thousand 2004 2004 IFRS 2005 IFRS 2004 2004 IFRS 2005 IFRS HOTELS Upscale and 646,225 630,510 631,473 758,274 734,784 758,144 Midscale Economy 276,826 275,834 294,400 324,781 323,960 361,011 Economy US 202,220 202,220 200,753 246,658 246,658 246,767 Total HOTELS 1,125,272 1,108,564 1,126,626 1,329,714 1,305,402 1,365,923 SERVICES 121,152 123,395 139,716 127,680 130,287 150,374 Other Businesses Travel 92,357 92,728 113,469 111,314 111,822 125,421 Agencies Casinos 53,341 53,289 76,070 53,200 53,148 75,597 Restauration 109,504 111,624 118,125 113,061 115,108 133,275 On-board 58,669 58,669 59,638 65,049 65,049 68,842 train services Other 37,650 37,920 42,102 44,549 44,832 47,859 Total other 351,521 354,230 409,404 387,173 389,958 450,993 businesses Total 1,597,945 1,586,189 1,675,746 1,844,566 1,825,647 1,967,290 NB: Revenue from Frantour previously in > has been reclassified in > for better comparison purpose Quarter 3 Quarter 4 In Euros Revenues Revenues Revenues Revenues Revenues Revenues thousand 2004 2004 IFRS 2005 IFRS 2004 2004 IFRS 2005 IFRS HOTELS Upscale and 712,327 699,012 727,697 748,235 722,529 746,975 Midscale Economy 338,623 337,751 371,140 308,991 309,146 339,927 Economy US 269,726 269,726 280,118 203,782 203,782 236,587 Total HOTELS 1,320,677 1,306,489 1,378,955 1,261,008 1,235,457 1,323,489 SERVICES 121,338 124,161 152,429 136,866 139,978 187,790 Other Businesses Travel 125,294 125,736 120,103 132,653 133,150 126,681 Agencies Casinos 55,051 54,998 85,832 59,579 59,527 88,750 Restauration 103,545 106,058 117,804 123,022 125,619 148,748 On-board 70,080 72,158 67,502 67,502 63,471 261,300 train services Other 53,719 54,010 58,930 50,609 49,654 53,597 Total other 407,689 410,883 454,827 433,365 435,453 481,248 businesses Total 1,849,704 1,841,532 1,986,212 1,831,239 1,810,888 1,992,527 NB: Revenue from Frantour previously in > has been reclassified in > for better comparison purpose December-end (YTD) In Euros thousand Revenues Revenues Revenues 2004 2004 IFRS 2005 IFRS HOTELS Upscale and 2,865,061 2,786,835 2,864,289 Midscale Economy 1,249,223 1,246,691 1,366,477 Economy US 922,387 922,387 964,226 Total HOTELS 5,036,670 4,955,913 5,194,992 SERVICES 507,036 517,820 630,310 Other Businesses Travel 461,618 463,437 485,674 Agencies Casinos 221,170 220,961 326,250 Restauration 449,132 458,409 517,952 On-board 261,300 261,300 264,109 train services Other 186,527 186,416 202,487 Total other 1,579,749 1,590,524 1,796,472 businesses Total 7,123,455 7,064,257 7,621,775 NB: Revenue from Frantour previously in > has been reclassified in > for better comparison purpose Quarter 1 Quarter 2 Quarter 3 In Euros thousand Change Change Change Change Change Change Report. L/L % Report. L/L % Report. L/L % IFRS % (x) IFRS % (x) IFRS % (x) HOTELS Upscale and Midscale 0.2% 0.5% 3.2% 4.2% 4.1% 3.5% Economy 6.7% 3.5% 11.4% 4.9% 9.9% 4.0% Economy US -0.7% 4.5% 0.0% 5.0% 3.9% 4.6% Total HOTELS 1.6% 2.0% 4.6% 4.5% 5.5% 3.9% SERVICES 13.2% 11.8% 15.4% 13.4% 22.8% 13.9% Other Businesses Travel Agencies 22.4% 7.7% 12.2% 9.6% -4.5% 2.9% Casinos 42.7% 3.9% 42.2% -3.2% 56.1% 5.3% Restauration 5.8% 4.1% 15.8% 13.9% 11.1% 1.4% On-board train services 1.7% 6.2% 5.8% 10.8% 3.0% 7.1% Other 11.0% 15.5% 6.8% 3.7% 9.1% 6.9% Total other businesses 15.6% 6.6% 15.7% 8.6% 10.7% 4.1% Total 5.6% 3.8% 7.8% 6.0% 7.9% 4.6% Quarter 4 December-end (YTD) In Euros thousand Change Change Change Change Report. L/L % Report. L/L % IFRS % (x) IFRS % (x) HOTELS Upscale and Midscale 3.4% 2.7% 2.8% 2.8% Economy 10.0% 3.9% 9.6% 4.1% Economy US 16.1% 6.3% 4.5% 5.1% Total HOTELS 7.1% 3.6% 4.8% 3.6% SERVICES 34.2% 16.9% 21.7% 14.1% Other Businesses Travel Agencies -4.9% -4.5% 4.8% 3.3% Casinos 49.1% -1.7% 47.7% 1.0% Restauration 18.4% 7.7% 13.0% 6.9% On-board train services -6.0% 0.3% 1.1% 6.1% Other 7.9% 5.6% 8.6% 7.5% Total other businesses 10.5% 1.3% 12.9% 5.0% Total 10.0% 4.1% 7.9% 4.7% (x) PCC : Périmètre et Taux de Change Constants Revpar by segment HOTELS : RevPAR by Occupancy Average room rate segment at Rate December-end 2005 (reported) (reported) (YTD) (in %) (var in (var in %) pts) Upscale and Midscale 63.2% -0.7 94 2.6% Europe Economy Europe 72.5% -0.3 50 4.0% Economy US (in USD) 65.9% +0.9 44 4.4% RevPAR HOTELS : subsidiaries subsidiaries subsidiaries subsidiaries & RevPAR by reported reported basis like-for-like managed reported segment at basis basis(1) basis December-end 2005 (YTD) Upscale and Midscale Europe 59 1.5% 2.3% 1.1% Economy Europe 36 3.5% 3.7% 3.6% Economy US (in USD) 29 5.7% 5.6% 5.7% (1) at comparable scope Revpar by country UPSCALE AND MIDSCALE HOTELS RevPAR by country at December-end Occupancy Average 2005 (YTD) Rate room rate (in local Number of (reported) (reported) currency) rooms (in %) (var in pts) (var in %) France 30,987 61.4% -1.1 102 3.7% Germany 13,413 61.9% +0.5 72 -0.2% Netherlands 3,698 65.5% +0.7 102 2.6% Belgium 2,230 66.9% -2.9 96 3.1% Spain 1,945 62.0% -2.2 90 -2.2% Italy 3,056 61.0% +2.6 112 -1.9% UK ( in GBP) 5,121 73.0% -1.7 77 6.1% USA (in $) 3,449 73.6% +1.6 178 13.0% UPSCALE AND RevPAR MIDSCALE HOTELS RevPAR by country at December-end 2005 (YTD) subsidiaries subsidiaries subsidiaries subsidiaries (in local reported reported basis like-for-like & managed currency) basis) basis(1) basis France 62 1.9% 2.3% 2.3% Germany 45 0.7% 0.5% 3.5% Netherlands 67 3.8% 3.8% 3.7% Belgium 64 -1.1% -1.1% -0.1% Spain 56 -5.5% 2.7% -8.7% Italy 69 2.4% 3.6% 2.4% UK ( in GBP) 56 3.6% 5.6% 3.9% USA (in $) 131 15.5% 15.5% 15.3% ECONOMY HOTELS RevPAR by country at Decembre-end 2005 (YTD) Number of Occupancy Rate Average room rate (in local rooms (reported) (reported) currency) (in %) (var in pts) (var in %) France 44,535 73.5% -0.9 43 4.6% Germany 15,084 71.2% +1.0 51 0.6% Netherlands 2,215 74.2% +0.5 69 1.8% Belgium 2,475 75.3% +1.3 60 -0.2% Spain 3,388 72.6% -1.7 49 6.8% Italy 1,216 57.6% +6.6 71 -9.9% UK ( in GBP) 6,190 73.8% -1.7 48 5.8% USA (in $) 109,081 65.9% +0.9 44 4.4% ECONOMY HOTELS RevPAR RevPAR by country at December-end 2005 subsidiaries subsidiaries subsidiaries subsidiaries (YTD) & managed (in local currency) reported reported like-for-like reported basis basis basis(1) basis France 31 3.4% 3.4% 3.4% Germany 36 2.0% 2.0% 2.6% Netherlands 52 2.5% 4.6% 2.5% Belgium 45 1.5% 1.5% 1.5% Spain 36 4.3% 8.8% 4.3% Italy 41 1.7% 5.2% 1.7% UK ( in GBP) 36 3.4% 4.2% 3.1% USA (in $) 29 5.7% 5.6% 5.7% DATASOURCE: Accor CONTACT: Contacts, Eliane Rouyer, Director, Investor Relations, Tél : +33(1)45-38-86-26. Anthony Pallier, Tél: +33(1)45-38-86-33, Investor Relations

Copyright