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ACCOR Losses Spur Asset Disposal

Category: Hotels, Posted:02 Sep 2012 | 08:43 am

Global hotel chain ACCOR which registered a net loss of over half a billion Euros last week, is predicting a return to the black.
Despite a write down of losses attributed to the sale of Motel 6 chain in the United States, the group is looking to consolidate its balance sheet.
One of ACCOR's primary strategies is to move reduce assets and focus on franchising and management.
A stated goal is to shed owned hotels to just 20% of the groups portfolio over the next four years.
There remains speculation over the future of the Sofitel brand given a global push into the lower tier with ibis and Formule 1.

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