logo
  

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
After Disney World, retail giant Walmart Inc. (WMT) makes it mandatory for all its employees to wear mask on their facilities in the "high-risk" states where the Delta variant of Coronavirus has become menacing. The orders will be in effect immediately. The Center for Disease Control and Prevention... Generac Power Systems is recalling 325,735 units of Generac and DR 6500 Watt and 8000 Watt portable generators for potential risk of finger amputation and crushing hazards, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. These include 4,575 units sold in Canada. Omaha, Nebraska- based Greater Omaha Packing is recalling around 295,236 pounds of raw beef products citing the possible presence of E. coli O157:H7, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS said. The raw beef products intended for non-intact use were produced on July 13.
RELATED NEWS
Follow RTT