Accor’s Thailand Hotel Business Remains Depressed

Accor’s consolidated revenues for the first half of 2009 totaled €3,410 million, down 8.1% like-for-like over the first half of 2008. In a severely deteriorated economic environment, prepaid services revenue grew 5.7% like-for-like and hotels revenue continued to decline, contracting 11.4% like-for-like.

In Thailand, Accor’s hotel business remains depressed and continues to be affected by the slowdown of tourist arrivals – a result of the closure of Suvarnabhumi, and other airports, in the country in 2008, the downturn in the global economy and to some extent concerns over Swine Flu, other widespread negative press and the demonstrations in April.

Occupancies of Accor hotels in Thailand dropped 16.1% like-for-like during the first half of 2009.

Speaking on the first half trading performance, Oswald Pichler – Vice President, Accor Thailand, Cambodia and Laos said, “Accor is working with tourism partners and operators and exploring unique sales activities, which are resulting in incremental revenues for its hotel network, however there remains a distinct lull in long haul business.”

Today Accor operates 41 hotels throughout Thailand. This hotel network covers the spectrum of accommodation from the economy sector with Accor’s All Seasons and Ibis hotel brands, through to luxury accommodation with Sofitel Luxury Hotels. Accor has also confirmed the development of 9 hotels to open in Thailand and remains committed to these developments.

Oswald Pichler said, “Tourists to Thailand today are enjoying exceptional value right throughout the country, and air travel to the country has never been more affordable. These factors are stimulating regional traffic to the many leisure destinations in Thailand. It is going to take decisive action by government authorities and tourism associations to coordinate the industry, in stimulating the much needed longer stay (long haul) business. In the mean time, we call on all stakeholders to work cohesively in placing Thailand as a destination back on the itinerary for prospective leisure travelers.”

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