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AccorHotels beats 2016 forecasts; Sarkozy to head int'l strategy

Earnings before interest and taxes rise 3.8% as restructuring efforts pay off

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AccorHotels says it is moving along with a planned sale of its HotelInvest property business - worth 6.6 billion euros - by mid-July.

Paris

ACCORHOTELS, Europe's largest hotelier, posted a record operating profit for 2016, which beat expectations, as restructuring efforts paid off and robust demand in Germany and Britain offset weakness in France.

However, shares in the company - which have outperformed the

sentifi.com

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