But analysts said the main focus will be a strategy update from CEO Gilles Pelisson, who has promised to improve profitability at its hotels while divesting peripheral businesses like casinos, travel agencies and catering.

The first concrete signs of this strategy came in April, when Accor sold its 50 pct stake in Carlson Wagonlit Travel.

This was followed in June by the decision to sell most of Accor\'s 29 pct stake in resort operator Club Med, nearly two years to the day after it was purchased.

\"Accor has made good progress in the first half, and we expect more good news on Sept 6,\" analysts at Morgan Stanley said in a research note.

Investors now expect Pelisson to address the problems at the Economy Hotels business in the US, widely seen as too small to compete with larger chains like Days Inn or Super 8.

Bruno de La Rochebrochard, analyst at Raymond James, estimates the return on capital employed for the US Economy division at 7.7 pct, well below the 16.7 pct generated at economy hotels in Europe and elsewhere.

Although Accor could fully exit the economy sector, it could also sell just the Red Roof Inn business, aimed more at business travellers, in order to bolster the presence of Motel 6, La Rochebrochard said.

Analysts added that Pelisson should restructure the US business soon, especially since recent data points to a marked slowdown for the American economy next year.

Accor has already reported an 8.4 pct rise in first half revenues to 3.69 bln eur, of which hotels sales were up 7 pct.

The Services division, which mainly consists of the fast-growing vouchers activities, saw a 25.6 pct rise in sales to 364 mln eur.

Analysts expect the company to post EBITDAR, which consist of profits before rent payments on properties, of 948-959 mln eur, up 9.7-11 pct from the same period last year.

Net profit is seen 180-212 mln eur compared to 132 mln last year, but analysts said these forecasts are less reliable because of uncertainties about the amount of capital gains that could be booked during the period.

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