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Accor launches effort to double earnings by 2022
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Accor SA (AC.FR) on Tuesday launched a strategy to double earnings before interest, taxes, depreciation and amortization from 2017 levels by 2022. Ebitda should reach 1.2 billion euros ($1.36 billion) in 2022 compared with EUR626 million in 2017, the company said. The French hotel operator said the strategy is based on the integration and ramp-up of recent acquisitions, boosting revenue through upscaling its brand portfolio and strengthening margins by imposing strict cost-control measures.