Accor Hospitality says half 2010 disposals secured

PARIS (Reuters) – Accor Hospitality, the hotel unit of France’s Accor SA (ACCP.PA), said more than half of its 2010 plan to sell assets to cut debt had been secured by the end of April and that it was stepping up expansion in Europe and Asia.

The company, aiming to grab the world No. 3 spot by 2015 and become Europe’s largest franchisor after its split from Accor Services, said the first-quarter recovery in its key revenue per average room gauge continued in April and the first half of May.

With 4,100 hotels ranging from luxury brand Sofitel to budget Ibis and Motel 6 across 90 countries, Accor Hospitality ranks fourth behind the InterContinental (IHG.L), Marriott (MAR.N) and Hilton and Starwood (HOT.N) chains.

Accor Hospitality expects asset disposals this year to have a 450 million euro ($559 million) impact, of which more than 50 percent had been secured by the end of last month. Click here for full Reuters story regarding Accor….