AccorHotels targets the doubling of its EBITDA between 2017 and 2022, to reach €1.2 billion
On the occasion of an investors' day, the group stated that its transformation to an asset-light model was almost complete and presented two initiatives:
- A proposed cash tender offer for the 21,800,593 Orbis shares not currently held by AccorHotels, representing 47.31% of the share capital. Its portfolio includes 128 hotels (21,000 rooms) mainly in Central Europe.
Sebastien Bazin, Chairman and CEO of AccorHotels said: “AccorHotels and Orbis have built a long-term partnership since their first business agreement 45 years ago. As its largest shareholder since 2000, AccorHotels has fully supported Orbis’ growth in Poland, then across Central Europe since 2014, where Orbis has become today a formidable leader. The proposed transaction will enable AccorHotels to accelerate its development in the region. In addition, it will enable AccorHotels to further implement its active asset management policy.”
- The alignment of the Group’s support functions with its new economic model, notably in Europe, in order to better serve partners and clients, while optimizing central costs, is expected to remain stable over the midterm.
Sebastien Bazin, said: “AccorHotels has gone through a major transformation over the last few years. This was evidenced by numerous acquisitions of brands and new ancillary business activities, the strengthening of our digital platforms, and the shift to an asset-light model with the sale of a majority stake in AccorInvest. These major steps behind us, we are now focused on executing on our strategy to unleash the Group’s full potential."
The group intends to continue its transformation by further developing its high-end luxury hotel fleet, which currently represents 24% of the units operated under the AccorHotels brand.
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