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Accor 2016 Net Profit Rises; Revenue Up 2.2% LFL - Quick Facts

Accor (ACRFY.PK,ACRFF.PK) reported 2016 Net profit, Group share of 265 million euros compared to 244 million euros, previous year. EBIT increased 4.6% to 696 million euros, or up 3.8% LFL. Operating profit before non-recurring items, net of tax amounted to 469 million euros, representing earnings per share of 1.81 euros.

Fiscal year consolidated 2016 revenue amounted to 5.63 billion euros, up 2.2% from 2015 at constant scope of consolidation and exchange rates (like-for-like), and up 0.9% as reported. The company said the increase resulted from healthy business levels in most of the Group's key markets. Revenue was down 2.8% in France in 2016.

Sébastien Bazin, CEO of AccorHotels, said: "AccorHotels has posted an excellent performance for 2016 in a challenging environment, in particular with record levels of EBIT and numbers of hotel rooms opened. We have ventured out to conquer new markets and offer new services thereby consolidating our leadership position and opening up new horizons for our clients. Carrying out our project to turn HotelInvest into a subsidiary in 2017 will give us significant headroom to seize the numerous opportunities provided by the rapid transformation of our industry."

AccorHotels will submit for the approval of shareholders the payment of a dividend of 1.05 euros per share at the May 5, 2017 Annual Shareholders' Meeting.

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