PARIS (Reuters) – Accor lowered its operating profit forecast for the year as a whole because of uncertainties in the Asia-Pacific region related to China, despite the rise in its share price. sales and unit income in the third quarter.
The French group, the European leader in the hotel industry with chains such as Raffles, Sofitel and Ibis, now expects a gross operating surplus of between 820 and 840 million euros in 2019. The upper limit of this forecast was previously set at 850 million euros.
In the third quarter, sales rose 10.9% to 1.049 billion euros, up 4.1% like-for-like.
Revenue per available room (RevPAR), an essential measure of activity in the hotel industry, rose 0.7% but with "mixed performance by region," the group said in a statement. This indicator increased by 1.2% in Europe while it contracted by 1.1% in Asia-Pacific.
"The consequences of trade tensions between China and the United States, combined with unrest in Hong Kong, have led to the deterioration of market conditions in China," says Accor. "The whole area, including Australia, is affected by this economic downturn."
Maya Nikolaeva and Bertrand Boucey, edited by Jean-Michel Belot
Source link
https://fr.reuters.com/article/businessNews/idFRKBN1WW2HD-OFRBS
Dmca
