Accor's benefits plunge in the first half of 2002

French hotel group Accor, with possessions in 140 countries, wrapped up the first half of the ongoing year with a plummeting 1.3% in profits with $215 million, somewhat below the $224 million the company reaped in 2001, sources close to the enterprise reported.

According to Accor, the slide is the result of the terrorist attacks occurred in the U.S. on Sept. 11, 2001, and of the growth slowdown in the world’s economy.

Accor, a firm that has focused expansion efforts on Europe, continued its development with the opening of 140 new hotels (18,491 rooms in all) into late August, even though that investment assumes a 17% drop as compared with the first half of 2001.

Its objective is to end up the year with $683 million worth of benefits before tax deduction.

The France-based company owns 1,700 hotels, travel agencies and casinos, plus a wide array of service-providing offers to other enterprises.