The gross operating margin increases of 0

Gilles Pélisson, CEO of the Accor Group, in Office since January 9, yesterday announced an acceleration of the implementation of its strategy of divestitures in the presentation of the accounts of the first half of 2006. After the sale of the balance of the participation in Compass Group, the disengagement of Carlson Wagonlit Travel and Club Mediterranee, refocusing on the hotel and services continues with the formalization of the assignment of Go travel and the Italian catering company Gemeaz Cusin. Accor, which has already sold for 660 million euros of non-strategic assets since the beginning of the year, account to recover over $ 500 million in 2007-2008.

Sale of the Wagons-Lits company is not yet decided. The Group may take its time, as its subsidiary goes well she has just won a contract on the TGV Est and participates in a tender for Eurostar and the issue is socially sensitive France. On the critical record of the assignment or non-American chain Red Roof Inn, Gilles Pélisson is "six to twelve months" to decide. He faces a difficult choice, taking into account inter alia of the existence of synergies with Motel 6 great economic Accor network in the United States (867 hotels).

Beyond all of the hotel pole was the subject of a thorough "review of neighbourhood" accompanied by an ambitious action plan. It is notably expected to create in Europe a new mark 2 stars standardized and free, its launch involved in France next year. High range chain Sofitel will be repositioned to better differentiate between its establishments (195 total) according to their level of comfort. The time is also to boost for formula 1, Ibis and Novotel. Motel 6 must confirm his leadership with an extension of the park free. Real estate transfers are amplified with a new program, to achieve by 2008, which deals with 535 hotels. Accor hopes to identify 3.22 billion euros, including 1.62 billion in cash. It has a feasible potential of 550 other institutions on 2008-2009 and mechanically, will significantly reduce the capital intensity of its hotel portfolio and its risk profile.

Power of the Group also translates a reconfiguration of the organization with the constitution of 8 platforms of expertise and a new seat Paris near the library of France which will be occupied in the first half of 2007. This accelerator coup occurs while Accor recorded a significant improvement in its results, the resumption of the hospitality sector are combining to the dynamism of its domestic services. In the first half, gross operating income reached EUR 969 million, an increase of 12.1 over the first six months of 2005, for a turnover of 3.69 billion, increasing by 8.4 ( 6 organic growth). The gross operating margin increases of 0.8 point, at 26.2, and earnings before tax and non-recurring items stood at 282 million, an increase of 36.7. Net profit after minority interests jumped 54.3 to 241 million, with a capital gain of 129 million on the resumption of the walls of 68 hotels by land of walls. In addition to its operational performance, the Group poster also fixed a financial situation in the middle.

The new deal in Accor also appears in a greater attention paid to shareholders. The new Directorate, which has already launched a program of redemption of securities of $ 500 million, promised yesterday that the proceeds of the disposals of non-strategic assets, new will result in a return to the carrier. For the whole of the year, the Group table on a result before tax and between 680 and 700 million non-recurring items, an increase higher than 20 from its 2005 level.