Hotel Business News Alert - Europe.
Accor reports decreased revenue growth in Q3 Third-quarter revenue growth for Accor slowed to 1.3% on a like-for-like basis compared with growth of 3.1% in the previous quarter, as the company reported deteriorating business in its south European markets. Sales during the quarter reached $1.93 billion, Accor reported. Oct 18, 2012
Accor sells majority stake in 15 hotels in India Accor Hotels Worldwide has agreed to sell 60% of its stake in 15 hotels in India to private equity firm Samhi Hotels for an undisclosed amount. The sale is for two hotels under the budget Formule 1 brand and 13 properties in development. Accor will retain management rights over the hotels as well as the rights to own and develop further hotel projects under the Formule 1 brand. Oct 16, 2012
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