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