Hotels group Accor secures 560 mln euros credit line, sees some signs of recovery

PARIS, May 18 (Reuters) - French hotel company Accor ACCP.PA - one of many in the tourism sector to have been hit hard by the impact of the coronavirus - said on Monday it had secured a new 560 million euros ($605.9 million) banking credit facility.

Accor, whose hotels include Sofitel and Ibis, said the new credit facility had been underwritten by BNP Paribas BNPP.PA, Crédit Agricole CIB CAGR.PA, Crédit Industriel et Commercial (CIC), Natixis CNAT.PA and Societe Generale SOGN.PA.

Accor added in a statement that it was seeing some "initial signs of business improvement", with revenues per available room (RevPAR) showing some recovery in China while more and more of its hotels were being re-opened.

($1 = 0.9242 euros)

 

Source: https://www.nasdaq.com/articles/hotels-group-accor-secures-560-mln-euros-credit-line-sees-some-signs-of-recovery-2020-05

 

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