This fork is however contrasting elements note the group

Gilles Pélisson, CEO of Accor, cannot dream better restart. Having completed its refocusing on the hotel when the stock market, July 2, of its services ex-pôle, become Edenred, the Group demonstrated in its new configuration net renewed form. Hotel operator, announced yesterday, an improvement of its stronger results than expected, and the strengthening of its financial situation. What feed his ambition to pull themselves, by 2015, of the fourth to third world place in the sector, increasing its fleet of more than 1,800 hotels, excluding acquisitions.

A comparable basis - i.e. non-Edenred, but also group of casinos group Lucien Barrière (to Accor, which holds a 49 opt) and services on the company of sleeping car porters trains assigned early July in Newrest-, the group operating income was EUR 154 million at June 30, against 69 million one year previously. The average of analysts forecasts was around 134 million, for a turnover of 2.85 billion, an increase of 6.1.

Similarly, loss net group share is reduced $ 236 million to 64 million, Accor showing a profit of 12 million excluding costs and exceptional taxes linked to its split. The good news was welcomed by investors as early as the opening of Euronext Paris, the title Accor ending the session at 24,40 EUR 3.85 increase, or second highest growth among the values component the CAC 40.

The hotel group had other positive surprises in his Pack, such as the upward revision of its programme of transfer of real estate assets for 2010, direct consequence of the large operation announced Monday (read below), but also the prediction of outcome of operation for the entire exercise. Accor table between 370 and 390 million euros, 236 million in 2009 to comparable basis, analysts believing it far 320 million. This "fork" is however "contrasting elements", note the group.

Accor, which is much more that meet its cost reduction programme (more than 50 of the 2010 target are already achieved) and control its prices, continued to take advantage of the ingredients of growth in the first half. Any particularly through the resumption of the French, German and English markets, and particularly good performance in medium- and high-end hotels. But if this positive trend continues, at this stage, for September and October, the Directorate also takes into account a lack of visibility on the end of the year in view of the portfolio of reservations.

Very healthy financial situation

"Certainly, China and emerging countries derive the results of Accor, but they are in Europe," insisted Gilles Pélisson, under "the macroeconomic questions about big countries", led by United States. But the French group just beginning to glimpse a way out of crisis across the Atlantic, the economic Hotel Motel 6, now chain on the franchise, having recorded an increase in its average revenue per available room - indicator of reference for professionals in the hotel in June and July. What had not happened since June 2008! "It may have hit bottom", wants to believe its CEO.

The latter is generally calm, because of the very healthy financial position of Accor, with a ratio of debt to 21 in pro forma, lines of credit used for a total amount of EUR 2 billion and also the absence of "major" refinancing before 2012. As a result, the group is capable of opportunities of potential "regional" external growth to boost its development.

To implement the plan 2010-2015 of the new Accor, Gilles Pélisson can now rely on a number two, Yann Caillère, promoted to associate General Manager (see page 8). After joining Accor in early 2006 in the wake of Gilles Pélisson - the two men have known each other for a long time-, there including the upper hand on the hotel industry in Europe-Middle-East-Africa and the chain of luxury Sofitel. His appointment demonstrates a little more the refocusing of the hotel, its historical business group.