PARIS, April 17 Europe's largest hotel group,
Accor, said on Wednesday that weak demand for budget
hotels in Southern Europe weighed on first-quarter sales and
said it expected the trend to continue in the second quarter.
The world's fourth-largest hotel group behind the
InterContinental, Marriott and Starwood
chains said revenue in the first three months of 2013 reached
1.227 billion euros ($1.61 billion), a like-for-like decline of
This marked a slowdown from like-for-like growth of 2.5
percent in the fourth quarter of 2012.
($1 = 0.7616 euros)
(Reporting by Dominique Vidalon; Editing by James Regan)