From Reuters:
European Giant Looks to Asset Sales, More Franchising
Europe's largest hotel group Accor said it was confident a recovery in demand for rooms would continue this year and pledged to accelerate asset sales to reduce debt and operate more hotels under franchises. But largely in-line results and a cautious dividend policy failed to impress investors, forcing its shares down 4 percent. Accor, the fourth-largest hotel group globally behind InterContinental, Marriott and Starwood Hotels, posted a 90 percent rise in 2010 operating profit, in line with forecasts, as room rates gradually recovered, notably in France, Britain and Germany. Click here for the full story.