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Accor's return to financial equilibrium on the horizon

Accor expects to return to breakeven EBITDA in the second half of this year thanks to a record summer season in most of its hotels.

The group's return to breakeven is due in particular to the strong recovery in business over the summer and is the result of marketing and sales investments made in the first half of 2022. These positive results once again attest to the resilience shown by Accor since the start of the health crisis.

The return to breakeven is also due to the positive impact of these investments, the maintenance of a strict cost base discipline and the strong dynamism of the business. Accor can therefore raise its EBITDA target for the 2022 financial year, which was initially announced at over €550 million and is now expected to be between €610 and €640 million.

The group also announces that it has entered into exclusive negotiations with The Valesco Group to sell its Paris headquarters building, the Tour Sequana, for €465 million.

The sale is accompanied by a 12-year sale and leaseback agreement. The transaction, which is subject to the usual due diligence procedures, is expected to be completed by the end of the year. It is part of the group's "asset-light" strategy, which aims to simplify Accor's balance sheet structure.

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