Accor maintains upbeat Q4 outlook

10/18/2011 | Reuters

Accor on Tuesday reported a 2.7% rise in third-quarter sales, to $2.22 billion, and maintained a positive outlook for the fourth quarter on steady bookings. The company says it expects an increase in this year's core operating profit of up to 19% and full-year 2011 earnings before interest and tax of about $703 million to $731 million. The French company posted a 6.8% increase in hotel revenue in the quarter on a like-for-like basis, as a 1.7% rise in average room rates and 1.8% increase in occupancy drove revenue in the U.S. to reach 5.1% in the same quarter.

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