PARIS Oct 16 Accor, Europe's largest
hotel group, said revenue growth slowed in the third quarter as
tough business conditions worsened in recession-hit southern
The French company, with more than 4,400 hotels ranging from
the luxury Sofitel to the budget Ibis chains, said that it was
reasonably optimistic for the end of the year in view of robust
demand in Asia and Latin America and kept its full-year
Accor said it was still expecting that 2012 earnings before
interest and tax (EBIT) would be in a range of 510-530 million
euros against 515 million in 2011, restated for the sale of U.S.
budget hotel chain Motel 6.
Accor, the world's fourth-largest hotel group, said
third-quarter sales reached 1.485 billion euros ($1.93 billion).
Like-for-like revenue grew 1.3 percent, against 3.1 percent
in the second quarter.
($1 = 0.7679 euros)
(Reporting by Dominique Vidalon; Editing by James Regan)