Accor SA, Europe's largest hotel operator, announced a reorganization that will focus the business on operating and owning hotels, reversing a previous plan to divest properties. The stock fell as much as 5.5 percent in Paris trading. Accor, based in the French capital, will build two businesses managed by a new executive committee with regional directors, the company said in a statement today. HotelServices will operate 3,600 properties, including Ibis, Novotel and Sofitel hotels. HotelInvest will own and purchase hotels.