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Accor raises profit guidance as it sells Paris headquarters

Published 28/09/2022, 17:40
© Reuters. FILE PHOTO: The logo of French hotel operator AccorHotels is pictured on top of the company's headquarters in Issy-les-Moulineaux near Paris, France, August 17, 2022. REUTERS/Sarah Meyssonnier/File Photo
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(Reuters) - European hotel group Accor (EPA:ACCP) on Wednesday raised its profit guidance for 2022 as it also announced it would sell its French headquarters in a sale-and-leaseback deal.

The French firm expects earnings before interests, taxes, depreciation and amortisation (EBITDA) to come in between 610 and 640 million euros ($590.5-619.6 million) this year, up from the "above 550 million euros" initially forecast.

© Reuters. FILE PHOTO: The logo of French hotel operator AccorHotels is pictured on top of the company's headquarters in Issy-les-Moulineaux near Paris, France, August 17, 2022. REUTERS/Sarah Meyssonnier/File Photo

It also announced that it entered into exclusive negotiations with Valesco Group to sell its Paris headquarters building, the Sequana Tower, for 465 million euros.

($1 = 1.0330 euros)

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