Mubasher: AccorHotels announced that its earnings before interest, tax, depreciation, and amortisation (EBITDA) reached EUR 712 million during fiscal year 2018 compared to EUR 622 million in 2017, registering an increase of 14.5% year-on-year; meanwhile, the results showed a rise of 8% on a like-for-like basis.

Europe’s largest hotel company AccorHotels said that the sale of 65% of the capital of AccorInvest and its deconsolidation from Accor’ income statements resulted in a EUR 2.4 billion capital gain; this brought net profit, Group share to EUR 2.233 billion in FY18.

In January 2019, Accor has placed two bond issues; EUR 600 million senior bond that will be matured in 2026 with a coupon of 1.75% and EUR 500 million perpetual hybrid bond with a first call in 2024 and a coupon of 4.38%, according to a recent press release.

“These issues were used to buy back the EUR 350 million bond issue maturing in 2021 with a coupon of 2.63% and the EUR 386 million perpetual hybrid bond issue with a first call in 2020. The remaining proceeds of the EUR 1.1 billion raised will be use to reimburse the EUR 335 million bond issue maturing in March 2019 with a coupon of 2.50%,” the press release added.