Accor to return €1 billion to shareholders
12/18/2019|2:52:52 PM|HM

Accor plans to return €1 billion to shareholders as it completed its move to an asset-light structure with the disposal of Orbis and the sale and management back of the Mövenpick leases.

The company said it would now move to organic growth with “a targeted acquisition strategy.”

In a call to investors, the group described a “two-pronged approach to redeploying capital” by increasing shareholder returns and continuing with hotel acquisitions of small and midsize asset-light groups, “consolidating leadership in key markets, getting access to leadership in high-growth markets” and “gaining speed on niche segments such as lifestyle.”

Accor Chairman/CEO Sébastien Bazin said, “Accor has now become a fully asset-light group. By combining a two-year €1 billion shareholder return program with the pursuit of a targeted acquisition strategy, the group demonstrates the strength of its new model and its ability to rigorously execute its strategic roadmap.

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