Registration Document 2013
2013 Review of the Year
2013 revenue by region
Europe (excluding France)
Latin America and Caribbean
Africa Middle East
Hotels revenue rose by 2.7% like-for-like and declined by 1.6%
on a reported basis.
The Group enjoyed very favorable demand in all its key markets,
especially in Europe. Among the emerging markets, demand
remained very strong in Latin America and the Africa-Middle East
region. Performance in the Asia-Pacific region was satisfactory
overall, despite lower business volumes in China, as well as in
Australia where the economy segment remains under pressure.
Quarterly change in 2013 Hotels revenue, like-for-
like and year-on-year
Upscale and Midscale Hotels
Revenue in the Upscale and Midscale segment rose by 3.3%
like-for-like and declined by 3.6% as reported in the fourth quarter.
Thanks to a balanced spread of business between capital cities
and regional destinations, combined with sustained demand from
leisure travelers at the end of the year, the segment saw robust
growth in all its key markets. Growth was particularly strong in
the United Kingdom and Germany, with revenues up by 8.9% and
4.0% respectively, like-for-like. Upscale &Midscale hotels in France
also delivered a very satisfactory performance, considering that
fewer trade fairs took place in October 2013 than in the year-earlier
period. Growth in the segment was also boosted by the Upscale,
with the ramp-up of the MGallery brand and the re-opening of
newly renovated Pullman flagships. At the same time, revenue
from management and franchise fees increased by 9.2% in the
Revenue from Economy Hotels increased by 4.1% like-for-like and
1.3% as reported in the fourth quarter.
All European countries contributed to the segment’s performance.
Growth was in the double digits in the United Kingdom, while the
situation in Southern Europe continued to improve, with like-for-like
increases of 5.4% in Spain and 5.5% in Italy. Segment performance
is also being stimulated by the opportunistic, disciplined distribution
channel management system introduced in the second half, which
helped to improve volumes and rates. At the same time, revenue
from management and franchise fees increased by 13.2% in the