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French hotel and services group Accor posted an impressive annual growth rate in 2006, with a net profit increase of over 50 percent, according to a press statement issued by the group on Wednesday.

 

Accor's consolidated turnover increased by 6.6 percent in results published in 2006, the highest growth recorded by the group since 1998, which reflects a significant growth in two sectors of the group, services and hotel business.

 

The group's net profits reached 501 million euros (US$651 million), an increase of 51 percent compared to 2005. The net result per share went up by 43.9 percent to 2.23 euros, as compared to 1.55 euros in 2005.

 

Accor has put in place a "new economic model" in the hotel sector, based on a product strategy by segments and geographical zones.

 

Following the success of major products such as Novotel and Ibis, Accor will in 2007 launch "All seasons," a non-standardized economic trademark.

 

"All seasons" will be developed at the European level with a potential of 10,000 rooms by 2010, the group's CEO Gilles Pelisson said.

 

(Xinhua News Agency March 8, 2007)