• Prepaid Services revenue grew 5.7% like-for-like.
• Hotels revenue continued to decline, contracting 11.4% like-for-like.
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Hotels revenue amounted to €2,534 million in the first half, a period-on-period decline of 9.6% as reported.
This figure takes into account the impact of:
• The expansion strategy, which added 4.4% to growth thanks to i) the opening of 12,100 rooms in
first-half 2009 versus 11,000 in the year-earlier period, including 4,240 rooms in franchised hotels,
an increase of 26% over first-half 2008, and ii) the €73-million impact of the full consolidation of
Orbis.
• The sale of hotel properties under the asset-right strategy, which reduced growth for the period by
2.1%.
• The currency effect, which was a negative 0.4% for the period.
• The 11.4% decline in Hotels revenue at constant scope of consolidation and exchange
rates caused by the continued deterioration of the economic environment, in spite of the improved
resilience of the Economy segment, particularly in France.
source | accor