UPDATE 2-Accor boosts dividend, confident on 2012

* 2011 EBIT 530 mln euros vs Rtrs poll 524 mln

* 2011 dividend 1.15 euros vs 0.63 euros estimates

* January-February booking trends "good" - CFO

By Dominique Vidalon

PARIS, Feb 22 (Reuters) - Europe's largest hotel group, Accor, showed confidence in its ability to tap recovering demand for hotel rooms this year and generate cash as it handed investors a bigger-than-expected dividend on the back of forecast-beating 2011 profits.

Accor, the world's fourth-largest hotel group behind InterContinental, Marriott and Starwood Hotels , said on Wednesday it expected robust emerging markets to underpin growth and that, despite an uncertain economic climate, business was holding up.

"The trends observed in the fourth-quarter, 2011, continued into January 2012, with RevPAR (Revenue per Available Room) figures stable in Europe and strong revenue growth in emerging markets," Chairman and CEO Denis Hennequin told a conference call with journalists.

"The economy segment in Europe and the United States is also continuing to benefit from rising room rates," he added.

Chief Financial Officer Sophie Stabile said bookings for January and February were "good".

Analysts worry that Accor, which makes 70 percent of its sales in Europe, is more exposed than its peers to a region where the business climate might be tougher this year.

However, there have been few signs of a slowdown in hotel demand in most European markets and Accor said it banked on a favourable calendar of business fairs in Germany, the Olympic Games in London, and the European Football Cup in Eastern Europe to support demand for hotel rooms this year.

Accor posted an 18.8 percent rise in 2011 operating profit, above forecasts, driven by higher occupancy rates and a gradual recovery in average room rates.

Earnings before interest and tax (EBIT) reached 530 million euros ($703 million), at the top end of the company's guidance of 510 million to 530 million euros, and above analysts' average estimate of 524 million.

The French company, which owns 4,200 hotels worldwide, said it would pay a dividend of 1.15 euros per share, against 0.62 euros for 2010. This beat analysts' expectations of 0.63 euros.

"The group is in excellent financial health, which enables us both to continue our growth strategy and to submit to the next annual shareholders meeting a total dividend of 1.15 euros," Hennequin said.

With operations in 90 countries ranging from the luxury Sofitel chain to budget Ibis and Motel 6 operations, Accor has a market capitalisation of 5.8 billion euros.

For 2012, Accor confirmed its objective of opening 40,000 rooms, having opened a record 38,700 rooms last year, mainly under franchise and management contracts.

The group said it was confident about its 2011-2015 asset disposal programme, which involves the sale of 400 hotels with a 2.2 billion euros impact on adjusted net debt and the restructuring of leased assets.

Accor more than halved net debt to 226 million euros at the end of 2011, notably thanks to the sale of its Lenotre gourmet catering unit and of its stake in casino group Lucien Barriere.

In the United States, the troubled Motel 6 economy chain continued its restructuring and its shift to an asset-light business model. Chief Financial Officer Sophie stabile told journalists that while continuing to restructure Motel 6, Accor would review any offer to buy the chain if it came its way.

Accor shares have gained 34 percent this year, outperforming a 9.7 percent rise in the CAC-40 index of French blue chips and an 8 percent increase in the STOXX Europe 600 travel and leisure sector index after a string of positive news on property disposals and relief its business was holding up despite a faltering European economy.