October 17, 2019 / 4:05 PM / a month ago

Accor narrows 2019 earnings guidance, citing Asia uncertainties

PARIS, Oct 17 (Reuters) - AccorHotels, Europe’s largest hotels company narrowed its full-year profit guidance even as it reported stronger third-quarter sales on Thursday, citing uncertainties in Asia Pacific.

The group, which runs high-end chains including Raffles and Sofitel as well as budget brands such as Ibis, said third-quarter sales rose 10.9 percent year on year to 1.049 billion euros ($1.17 billion).

The group said it forecast full-year 2019 earnings before interest, taxes, debt and amortisation (EBITDA) rising to between 820-840 million euros. That was a slightly more narrow range than the 820-850 million euros target announced earlier. ($1 = 0.8991 euros) (Reporting Maya Nikolaeva, Editing by Sarah White)

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