logo
Plus   Neg
Share
Email

AccorHotels Reaffirms Ambitions, Targets Doubling Of EBITDA By 2022

AccorHotels (ACRFY.PK,ACRFF.PK) on Tuesday reaffirmed the key components of its strategy in its trading update ahead of its Capital Market Day to be held in Paris.

Further, AccorHotels said it targets the doubling of its EBITDA between 2017 and 2022, to reach 1.2 billion euros. This will be driven by the integration and ramp-up of recent acquisitions, and solid revenue growth, reflecting both sound business levels in the Group's key markets and the continued increase in development, supported by the upscaling of its brand portfolio. The outlook also reflects operating margin improvement, thanks to strict control of central costs.

The company added that operating performance enhancement, combined with stable CAPEX will lead to sharp increase in recurring cash-flows, and hence the Group's dividend per share.

AccorHotels said the execution of its strategy will be fostered by two initiatives: The public tender offer for 47% of the share Capital of the Polish company Orbis that AccorHotels does not own.

Also, the alignment of the company's support functions with its new economic model, notably in Europe, in order to better serve partners and clients, while optimizing central costs, expected to remain stable over the midterm.

In Paris, AccorHotels shares are trading at 40.08 euros, up 1.47 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Polaris Industries Inc. is recalling certain Ranger and General Utility, as well as All-Terrain vehicles citing risks of crash, the U.S. Consumer Product Safety Commission said in a statement. The Medina, Minnesota-based company has called back about 26,730 units of Model Year 2019 - 2020 Ranger XP 1000 & Model Year 2020 General XP 1000 Utility vehicles. Gilead Sciences Inc. (GILD) said Friday that the European Commission has granted conditional marketing authorization for Veklury or remdesivir as a treatment for SARS-CoV-2 infection, the virus that causes COVID-19. FedEx is asking NFL team Washington Redskins to change its name for its racist connotations. The delivery services company, which is a major sponsor for the team, made the suggestion following increasing pressure from its investors amid the ongoing protests against racial injustice and inequality that arose from the killing of African-American George Floyd.
RELATED NEWS
Follow RTT