PARIS Aug 29 Europe's largest hotel group,
Accor, said it was cautious about full-year profit
growth prospects as demand for hotel rooms slows in southern
Europe and visibility is limited in the second half due to an
uncertain economic climate.
The French company, with more than 4,400 hotels ranging from
the luxury Sofitel to the budget Ibis chains, posted a 10.1
percent rise in like-for-like first-half earnings before
interest and taxes (EBIT) to 212 million euros ($266 million) on
Wednesday, in line with expectations.
The world's fourth-largest hotel group behind the
InterContinental, Marriott and Starwood
chains predicted 2012 EBIT would be in a range of 510-530
million euros against 515 million in 2011, restated for the sale
of its Motel 6 unit.
This was below the average of market expectations of 533
million euros, according to Thomson Reuters I/B/E/S estimates.
Accor, which sold troubled U.S. budget hotel business Motel
6 for $1.9 billion in May, is accelerating its growth in
emerging markets in Asia-Pacific and Latin America.
($1 = 0.7958 euros)
(Reporting by Dominique Vidalon; Editing by James Regan)