October 18, 2018 / 4:07 PM / a month ago

AccorHotels raises earnings guidance after rise in sales

PARIS, Oct 18(Reuters) - AccorHotels, Europe’s largest hotel group, made a slight upward revision to its full-year profit guidance as it reported higher third-quarter sales.

The group, which runs high-end chains including Raffles and Sofitel as well as budget brands such as Ibis, said third-quarter sales rose 22.3 percent year on year to 1.033 billion euros ($1.2 billion).

Accor saidf it is now forecasting 2018 operating profit between 700 million euros and 720 million euros, up slightly from a previous target of 690-720 million euros. ($1 = 0.8699 euros) (Reporting by Sudip Kar-Gupta Editing by David Goodman)

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