Accor Raises Profit Guidance As It Sells Paris Headquarters

European hotel group Accor on Wednesday 28 September raised its profit guidance for 2022 as it also announced it would sell its French headquarters in a sale-and-leaseback deal.

EBITDA Expectation

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

Paris HQ Sale

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

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.