Last $9.36 USD
Change Today -0.058 / -0.62%
Volume 64.4K
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As of 8:10 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

accor sa-unspon adr (ACRFY) Key Developments

Action Hotels Announces Accor as its Partner for the First Novotel Branded Hotel in Kuwait

Action Hotels announced Accor for the management of the new 160 room freehold hotel which will be built in the prime business district of Sharq in Kuwait City. The hotel will be a four star offering and will be branded as a Novotel which is the mid-scale hotel brand within the Accor portfolio. Construction of the hotel is scheduled to commence in first half of 2015 with completion expected in 2017.  The development of this freehold hotel is currently expected to cost approximately $29 million, an average of $181,000 per room, in addition to the $12.3 million already paid to secure the plot of land. The Board is considering various funding options which are likely to include locally sourced long term bank debt secured on the hotel and other of AHC's debt-free freeholds. As previously announced, the Novotel Kuwait is in addition to the pipeline of hotels announced at the time of IPO and will increase Action's room count to 2,660. The Company will continue to pursue opportunistic prime leasing and acquisition targets across the GCC and remains committed to its target of having 5,000 hotel rooms by 2020.

Accor S.A. Announces Revenue Results for the Second Quarter and First Half Ended June 30, 2014

Accor S.A. announced revenue results for the second quarter and first half ended June 30, 2014. For the quarter, revenue was EUR 1,458 million against EUR 1,439 million for the same period a year ago. At constant scope of consolidation and exchange rates (like-for-like), second-quarter revenue rose by 3.3%. For the period, revenue was EUR 2,593 million against EUR 2,640 million for the same period a year ago. At constant scope of consolidation and exchange rates (like-for-like), first-half revenue rose by 2.8%, due to favorable demand in the majority of the Group's key markets.

Accor S.A., Q2 2014 Sales/ Trading Statement Call, Jul 17, 2014

Accor S.A., Q2 2014 Sales/ Trading Statement Call, Jul 17, 2014

Accor S.A. Announces to Open Pullman Hotel in Liverpool, UK

Accor S.A. announced that it will open a 216 room hotel under its Pullman brand at the Kings Dock, on Liverpool's waterfront in summer 2015. The second Pullman brand hotel in the UK, the upscale hotel will be operated by Branded Hotel Management, under a franchise agreement and forms part of a new development at the Kings Dock. The first UK Pullman to be newly built will be a contemporary, stylish hotel and will be a fitting addition to the new Exhibition Centre Liverpool which will be integrated with ACC Liverpool, currently home to BT Convention Centre and Echo Arena. The new Pullman will extend the company’s offering in Liverpool to cater to all markets from budget to upscale with a Formule1, ibis, ibis Styles Novotel, and Adagio all within a kilometer of the city centre.

Accor Group Launches Web 2.0 Internal Communication Platform

Accor Group has launched a Web 2.0 internal communication platform that combines a new generation intranet site, AccorLive, and a corporate social network, AccorLounge, for its 170,000 employees. With digital technology central to guest experience in Accor hotels, the Group is now committed to a major internal cultural evolution to also support its employees. It aims to create greater worldwide exchange amongst its staff using levers like targeted and constant information streams, the sharing of ideas and good practices, the storage of multimedia content, the creation of collaborative communities and multi-channel consultation all accessed by using a professional or personal device.

 

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