• Accor expectation builds

Excitement is building that Accor will unveil a more aggressive strategy than initially anticipated at its full-year results presentation later today (March 8th).

Whether or not Accor's new boss, Gilles Pelisson, wants to pursue such a strategy, expectation is such that he might find he has no choice in the longer term.

Analysts at UBS last week suggested that some of the group's non-core assets may be put on the market, in particular its joint venture stake in the Carlson Wagonlit Travel business.

Accor confirmed that it was looking at selling its stake but stressed that no decision had yet been taken. The stake accounts for 6% of Accor's sales and 6% of operating profit.

The suggestion by UBS that Accor was looking at divestments sent its share price up as investors scented the prospect of cash heading their way.

Earlier this year, analysts at Morgan Stanley suggested that one of the 'surprises of the year' might be Accord 'doing an InterContinental' and selling off assets.

One asset that has been shed in the past week is a 782-room Sofitel in Paris that is to be run now by Marriott International. Accor will still have 13 Sofitels in the Paris region.

Meanwhile, Pelisson has plugged the final gap in his senior management team with the appointment of Eric Lepleux as marketing director. Leplaux was previously the general manager of the Germany, central Europe and Eastern Europe division of Singapore Airlines.

Share →