Accor
Article Abstract:
Accor has sold assets and reduced its debt to 19.4 billion French francs from 21.2 billion francs, aiming to reduce this further to 17 billion francs in 1996. Finance costs were reduced by 194 million francs in 1995. Accor's upmarket hotels saw a rise in profit of 21% for 1995, though catering, travel agency, budget hotels and payments vouchers saw flat or reduced profits. Accor should perform better in 1996 since some key problems have been tackled, according to Fraser Ramzan from Lehman Brothers.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Accor: food for thought
Article Abstract:
Accor has sold its international contract catering operation, Eurest International, to Compass in a move which will help Accor cut its debt level. Some brokers are concerned that a promising activity has been shed, but the company's debt problem appears more urgent. Accor also aims to reduce the proportion of hotel rooms owned in relation to those which are managed. Accor also plans to expand at the luxury end of the hotel trade, but has failed to acquire the Meridien chain.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Accor, vacancies: rooms available
Article Abstract:
Accor is selling luxury hotels and may be selling these cheaply as a means of securing management contracts. Three Sofitel hotels are to be sold in Paris, France, in addition to hotels in Marseille, Lyon and Strasbourg. Hotel occupancy rates are at a healthy level so investors are likely to be attracted to further offerings. Accor's share price performance has not been good and the company's expansion policy in France and the US has been criticised.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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