Arab Today, arab today accor posts net profit rise for 2011
Last Updated : GMT 21:50:13
Arab Today, arab today
Arab Today, arab today

Accor posts net profit rise for 2011

Arab Today, arab today

Arab Today, arab today Accor posts net profit rise for 2011

Paris - AFP

French hotel giant Accor posted a net profit of 27 million euros for 2011 on Wednesday with operating profits, a key measure for the company, up by 18.8 percent from a year ago to 530 million euros ($701 million). Accor, which runs a series of hotel chains, announced last month improved sales of 6.1 billion euros in 2011, up 2.5 percent from 2010. In 2011, the hotel expanded by a record 39,000 rooms, the company said, mostly under franchise conditions as the company continues to downsize real estate assets. The company said it would maintain a multi-year asset sale programme set to cut 400 hotels with an impact of 2.2 billion euros by 2014.  

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