2013 Registration document and annual financial report - page 189

Registration Document 2013
187
Financial Statemements
5
Consolidated Financial Statements And Notes
Return on capital employed (ratio between EBITDA and average capital employed) for continuing operations over a 12-month rolling period
is as follows, by business segment:
Business
Dec. 2012*
Dec. 2013*
Capital Employed
ROCE
Capital Employed
ROCE
(in millions of euros)
% (in millions of euros)
%
HOTELS
6,192
14.1%
6,132
13.8%
Upscale and Midscale Hotels
4,142
11.4%
3,947
11.0%
Economy Hotels
2,050
19.5%
2,185
18.7%
OTHER BUSINESSES
163
13.0%
218
21.7%
GROUPTOTAL EXCLUDING DISCONTINUED
OPERATIONS
6,355
14.0%
6,350
14.0%
* Based on continuing operations: i.e. excluding the US Economy Hotels business sold in 2012 and the OnboardTrain Services business reclassified as a discontinued
operation.
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