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Accor's earnings growth outstrips expectations in 2017
Accor Hotels, Europe's largest hotel company, posted a 10.1 percent rise in operating profit for 2017, boosted by cost containment and strong demand for all major regions except Brazil.
The French company said discussions on allowing a group of French and foreign investors to invest in the capital of its Accor-Invest real estate unit were in its final stages.
Accor Hotels, which runs luxury chains such as Raffles, Sofitel and other economic firms like Ibis, said its EBITDA was 492 million euros ($ 606 million) in 2017.
This exceeded a revised forecast of the company itself, which was between 460 million and 480 million euros, while analysts polled by Enquire Financial looked at Reuters for 481 million euros.
(USD = 0.8118 EUR)
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