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Hotels group Accor tells shareholders at AGM of slow and limited recovery
More Than 50% Of Accor's Hotels In France Are Now Open
Accor Gets Additional EUR 560 Mln Banking Credit Facility
Accor SA is a France-based hospitality group. It operates through three divisions: Hotel Services, Hotel Assets & Other and New Businesses. Hotel Services covers the activities of hotel management and franchise providing various services to its franchisees and hotels under management, such as the use of its brands, access to the centralized booking and purchasing system and to Accor Academie for employee training, among others. Hotel Assets & Other covers the owned and leased hotels activities, such as hotel design, construction, refurbishment and maintenance, among others. New Businesses offers digital solutions to independent hotels and restaurant owners, hotel booking services for companies and travel agencies, concierge services, digital sales for luxury and upscale hotel rooms and breaks and luxury home rentals owning a portfolio of more than 5,000 addresses worldwide. It operates globally owning more than 35 brands, from luxury to economy and more than 4,800 hotels.
Hotels & Motels
82 rue de Henri Farman
Chairman of the Board, Chief Executive Officer, Member of the Executive Committee
Deputy Chief Executive Officer, Finance, Strategy, Legal, Communications and Procurement, Member of the Executive Committee
Chris J. Cahill
Deputy Chief Executive Officer, Hotel Operations, Member of the Executive Committee
Vice Chairman of the Board, Senior Independent Director
Chief Digital Officer in Charge of Digital, Distribution, Sales and Information Systems, Member of the Executive Committee
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French hotel company Accor <ACCP.PA> - one of many in the tourism sector to have been hit hard by the impact of the coronavirus - said on Monday it had secured a new 560 million euros (500.75 million pounds) banking credit facility.
French hotel company Accor - one of many in the tourism sector to have been hit hard by the impact of the coronavirus - said on Monday it had secured a new 560 million euros ($605.9 million) banking credit facility.
France's Accor <ACCP.PA>, which runs hotels such as Ibis and Movenpick, said on Friday it would offer its clients free access to online medical consultations run by insurer AXA <AXAF.PA> as it prepares for a recovery from the coronavirus crisis.
French hotel group Accor said that from July onwards this year, it would offer its clients free access to online medical consultations, run by insurer AXA, as Accor prepares for an eventual recovery from the coronavirus crisis.
AccorInvest, the real estate offshoot of French hotel group Accor <ACCP.PA>, on Thursday said it had explored the possibility of tapping a French government-guaranteed loan programme but had decided not to pursue an aid package for now.
AccorInvest, the real estate arm of French hotel group Accor <ACCP.PA>, is in talks with several banks over a 400 to 500 million euro ($544 million) government-guaranteed loan, according to BFM Business.
Accor, which has closed hotels around the world due to lockdowns during the coronavirus pandemic, expects April and May to be its toughest months as it awaits clarity on them being lifted.
Accor, hit hard by the coronavirus crisis which has forced it to close hotels worldwide, said on Wednesday it faced its toughest months of losses yet in April and May amid uncertainty over when governments will lift lockdown measures.
French hospitality group Accor <ACCP.PA> has sufficient cash to operate through the coronavirus crisis, its chief executive said on Monday.
French hospitality group Accor said on Thursday it would cancel its planned dividend payout against 2019 earnings due to the coronavirus health crisis, which will see it shutter two thirds of its hotels in the coming weeks.
French hotel group Accor <ACCP.PA> and home rental company Airbnb are launching online services to help medical staff fighting the coronavirus epidemic in France find emergency housing.
* SETTING UP A NATIONAL PLATFORM TO PROVIDE HEALTHCARE PERSONNEL AND UNDERPRIVILEGED POPULATIONS WITH ACCOMMODATION SOLUTIONS IN THE GROUP'S HOTELS
Street protests in Hong Kong put a brake on Accor's <ACCP.PA> revenue growth in 2019, and the group behind chains including Movenpick and Ibis expects a further impact in China this year where many of its hotels are not taking reservations.
Accor said on Thursday that street protests in Hong Kong and transport strikes in France had weighed on its performance in 2019, as revenues and profits at Europe's largest hotel group grew slightly more slowly than expected.
Accor <ACCP.PA>, Europe's largest hotel group, said on Tuesday it was joining forces with American card giant Visa <V.N> to offer a payment card to members of its lifestyle loyalty program named ALL-Accor Live Limitless.
* ACCOR’S FAIRMONT HOTELS & RESORTS SAYS IT ENTERS INTO GLOBAL PARTNERSHIP WITH MONTREUX JAZZ FESTIVAL Source text for Eikon: Further company coverage: (Gdansk Newsroom)
French hotels group Accor <ACCP.PA> said on Monday that it was launching a 300 million euros share buyback programme.
* SAID ON MONDAY ACCOR HAS SIGNED A BINDING AGREEMENT TO SELL 85,8% STAKE IN THE COMPANY TO ACCORINVEST GROUP
* PORTFOLIO OF 16 LEASED HOTEL ASSETS ACROSS GERMANY, SWITZERLAND AND NETHERLANDS
(This November 14 story corrects to say disposal of financial assets could return 35% market cap in cash in paragraph two, clarifies selling luxury business would be a second step)
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