Chinese tourism growth helps French hotel chain

French accommodation group AccorHotels, owner of the Ibis, Novotel and Sofitel brands, has reported strong results from 2017.

Sebastien Bazin, Chairman and Chief Executive Officer of French hotel operator AccorHotels, attends the company's 2017 annual results presentation in Issy-les-Moulineaux near Paris, France, February 21, 2018. [Photo: VCG]

One key factor in the success of multinational group was the strength of demand for rooms in China.

This reflects both a growing number of tourists visiting the country, and also a growth in domestic tourists.

Chinese demand helped to boost the key metric of revenue per available room by 7.7 percent in Asia.

Overall, the group reported a rise of over ten percent in operating profits when compared to the same period in 2016.

Speaking about the worldwide results, Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels, said:

“AccorHotels’ earnings for 2017 mark another leap in performance, with excellent operating results and record development.''

''The Group continues to benefit from positive market trends with a confirmed increase in volumes. Against this buoyant backdrop, AccorHotels continues to pursue its dynamic trajectory, consolidate its market share and enrich its range of services for customers and partners.''

''The Group has never been so strong. By developing our "augmented hospitality" model, we are at the forefront of an industry that is constantly transforming and has unlimited prospects.”