Accor: completes several divestments
(CercleFinance.com) - Accor announces that it has finalised the sale of 85.
8% of Orbis' capital to AccorInvest for 1.06 billion euros.
In the same week, the group xompleted the sale of the Mövenpick hotel rental portfolio, which reduced the group's net debt by 430 million euros.
At the end of February, Accor recorded a 4.5% y-o-y drop in its RevPAR at a constant consolidation scope and exchange rates, with a 10.2% fall in February.
"Over the first two months of the year, this net decline in activity due to CoVid 19 has had a E20 million impact on EBITDA. Since the last week of February, we have seen a strong acceleration of the decline in the activity across Europe, particularly in Italy, France and Germany," Accor said.
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8% of Orbis' capital to AccorInvest for 1.06 billion euros.
In the same week, the group xompleted the sale of the Mövenpick hotel rental portfolio, which reduced the group's net debt by 430 million euros.
At the end of February, Accor recorded a 4.5% y-o-y drop in its RevPAR at a constant consolidation scope and exchange rates, with a 10.2% fall in February.
"Over the first two months of the year, this net decline in activity due to CoVid 19 has had a E20 million impact on EBITDA. Since the last week of February, we have seen a strong acceleration of the decline in the activity across Europe, particularly in Italy, France and Germany," Accor said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.