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28 August 2008

French hotel group Accor braces for slowdown | reuters.com

Accor, the world's fourth-largest hotel group, announced a new round of cost savings on Thursday as it warned of tough times ahead and said the U.S. slowdown was accelerating "week after week". The French hotels and services group, which operates the Ibis and Sofitel hotel chains, gave a full-year profit target slightly below forecasts and also said hiving off its services unit was not currently on the cards.

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