Accor: raises 2022 EBITDA target
(CercleFinance.com) - Last night Accor announced an upward revision of its earnings target for 2022, while announcing negotiations for the sale of its headquarters, which resulted in the share significantly outperforming in early trading this Thursday.
The hotel group said it expects its owner services business, which includes sales, marketing, distribution and loyalty, to return to break-even in H2 2022.
Accor explains this return to breakeven by the strong recovery of its business over the summer, as a result of the marketing and commercial investments made over H1.
Combined with its strict cost discipline, this momentum has led the group to raise its EBITDA target for 2022, which is now expected to be between 610 and 640 million euros.
For the record, it was previously targeting over 550 million euros at this level.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The hotel group said it expects its owner services business, which includes sales, marketing, distribution and loyalty, to return to break-even in H2 2022.
Accor explains this return to breakeven by the strong recovery of its business over the summer, as a result of the marketing and commercial investments made over H1.
Combined with its strict cost discipline, this momentum has led the group to raise its EBITDA target for 2022, which is now expected to be between 610 and 640 million euros.
For the record, it was previously targeting over 550 million euros at this level.
Copyright (c) 2022 CercleFinance.com. All rights reserved.