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Accor Q3 Revenue Up 3.3%

French hotel group Accor SA (ACRFY.PK,ACRFF.PK) said Thursday that ist third quarter revenue rose 3.3% to €1.46 billion from €1.41 billion in the same quarter last year, helped by strong demand in most of the company's markets, particularly in the UK, Germany and
Benelux, and in Europe generally.

At constant scope of consolidation and exchange rates (like-for-like), third quarter revenue rose by 4.6%.

For the third quarter, HotelInvest revenue rose 4.6% like-for-like to €1.29 billion, while HotelServices revenue increased 2.7% like-for-like to €325 million.

Accor confirmed its EBIT target of between €575 and €595 million for full year 2014.

Sébastien Bazin, Chairman and Chief Executive Officer, said: "This strong third-quarter performance enables us to confirm the full-year EBIT target set for 2014. Obviously, we will continue to pay close attention to changes in the persistently lackluster French market, and to the situation in Africa. The strong demand in Europe, including in Southern Europe, and in emerging markets will provide the growth necessary for HotelInvest and HotelServices to continue to implement their strategic roadmaps."

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