Accor Plans U.S. Expansion, Currency Moves Hit Profits

Investors hated Accor's results - the stock got crushed. But the U.S. expansion plan is starting to pick up.

Accor signaled plans for deeper U.S. expansion, highlighted by its recent Treasure Island Las Vegas deal, even as currency swings dragged down first-half profits.

CEO Sébastien Bazin said the Paris-based hotel company would target U.S. cities where the company can leverage European demand, especially through the lifestyle and luxury brands of its Ennismore joint venture.

"We're going to continue to go deeper in the U.S.," Bazin said during Thursday's earnings call. "You're going to see more of those transactions, likely in some targeted cities where we can contribute European demand."

The Treasure Island deal marked Accor's biggest U.S. move in years, adding the 2,885-room Las Vegas casino resort under its Handwritten collection.