• Issue 1020

Positive half for Accor

 

Accor reported like for like revenues up 2.8% in the first half of 2014 at EUR2,593m. The group’s HotelInvest owning division saw revenue increase in all markets except France.

 

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Rezidor accelerates growth

 

Rezidor signed 11 new hotels with close to 2,200 rooms during the second quarter. Four of the properties will be in Saudi Arabia with a further two in Turkey, both key expansion markets.

 

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Travelzoo looks to hotels

 

Travelzoo reported revenues down 11% year on year in the second quarter. While revenues fell 17% in the USA, they were up 6% in Europe, a region which contributed 43% of the quarter’s operating income. 

 

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Parnas creates S Korean buzz

 

Bidders are lining up to pitch for South Korean hotel group Parnas Hotel Co. A majority 67.6% stake is being sold in the company and is likely to fetch USD580-780m, reports Reuters. 

 

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