february 27th, 2018
Share Buy Back Program Project
AccorHotels today announced that it has signed agreements with a group of international investors with a view to selling a majority of the capital of AccorInvest.
Under the terms of the agreements, AccorHotels would initially sell 55% of AccorInvest resulting in a gross cash contribution of €4.4 billion.
Following the closing of the transaction, AccorHotels intends to implement over a two-year period a share buyback program of up to €1.350bn euros, i.e. 10% of its share capital based on current market capitalization
AccorHotels is a world-leading travel & lifestyle group and digital innovator offering unique experiences in more than 4,300 hotels, resorts and residences, as well as in over 10,000 of the finest private homes around the globe. Benefiting from dual expertise as an investor and operator, AccorHotels operates in 100 countries. Its portfolio includes internationally renowned luxury brands such as Raffles, Sofitel Legend, SO Sofitel, Sofitel, Fairmont, onefinestay, MGallery by Sofitel, Pullman, and Swissôtel; the mid-range boutique hotel brands 25hours, Novotel, Mercure, Mama Shelter and Adagio; and very popular budget brands such as JO&JOE, ibis, ibis Styles and ibis budget, as well as the regional brands Grand Mercure, The Sebel and hotelF1. AccorHotels provides innovative end-to-end services across the entire traveler experience, notably through the acquisition of John Paul, world leader in concierge services.
With an unmatched collection of brands and rich history spanning close to five decades, AccorHotels, along with its global team of more than 250,000 dedicated women and men, has a purposeful and heartfelt mission: to make every guest Feel Welcome. Guests enjoy access to one of the world’s most rewarding hotel loyalty programs – Le Club AccorHotels.
AccorHotels is active in its local communities and committed to sustainable development and solidarity through PLANET 21, a comprehensive program that brings together employees, guests and partners to drive sustainable growth.
Accor SA is publicly listed with shares trading on the Euronext Paris exchange (ISIN code: FR0000120404) and the OTC marketplace (Code: ACRFY) in the United States.