PARIS, July 27 (Reuters) - AccorHotels on Wednesday predicted its operating profit would rise further this year as Europe’s largest hotel group reaps the fruits of its restructuring.
The world’s fifth-largest hotel group said it would get a boost in the second half from recently acquired Fairmont Raffles International group but expressed caution about the impact of Britain’s vote to leave the European Union and attacks in France and Germany.
It added that situation in Turkey was “still difficult to measure.”
AccorHotels, undergoing an overhaul begun by Chief Executive Sebastien Bazin in 2013, forecast a 2016 operating profit of between 670 million euros ($736.20 million) and 720 million euros, compared with 665 million in 2015. A ThomsonReuters poll produced a forecast of 713 million euros.
First-half operating profit fell 4 percent like-for-like to 239 million euros, below the Thomson Reuters average estimate of 257 million euro, as weak trading in France and Brazil weighed on trading.
$1 = 0.9101 euros Reporting by Dominique Vidalon, editing by Astrid Wendlandt