Accor to ‘Step Up’ Asset Disposals, Forecasts Improving Demand | bloomberg.com

Accor SA, Europe’s largest hotelier, said it will accelerate an asset disposal plan and forecast that market growth last year will continue in 2011. The asset-sales expansion will help reduce adjusted net debt by a combined 1.2 billion euros ($1.6 billion) this year and in 2012, Evry, France-based Accor said today in a statement. Accor will be able to dispose of more than the 450 hotels than it announced in its previous plan.