Budget-segment growth lifts Accor's 2011 performance

02/22/2012 | Bloomberg

Accor's 2011 earnings before interest and tax grew 19%, to $702 million from $593 million in 2010, boosted by strong business in emerging markets and its budget hotels segment. "Despite the uncertain economic environment, business is holding firm," the company said. This year, Accor will be pursuing the goal of adding 40,000 rooms; it sees opportunities in Latin America and the Asia-Pacific region, CEO Denis Hennequin said.

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