Accor, Melco Crown post solid results

Both French hospitality giant Accor and Macau’s Melco Crown have returned to black in their latest financial results.

A 4.4% year-on-year upshot in revenue for Accor saw the company turn a US$21 million (€15 million) loss during the first half of 2010 into a profit of US$59 million (€41 million) during the first half of 2011.

Despite recent turmoil in financial markets, the company said it does not expect a slowdown in business for the second half of the year.

A full report can be read here.

Ahead of a proposed initial public offer on the Hong Kong stock exchange, casino-hotel operator Melco Crown Entertainment Ltd. posted solid third quarter results with revenue surging to US$960 million with the increase coming from all its properties.

The increase brought the company’s profit for the quarter to US$127 million after posting a US$7 million loss in the third quarter of 2010.

A full report can be read here.