Accor agrees €560m credit line

Accor Tribe

Accor has secured a €560m credit facility, underwritten by BNP Paribas, Credit Agricole CIB, Credit Industriel et Commercial, Natixis and Societe Generale.

The company said that it had more than €4bn in liquidity “more than 40 months under current market conditions”.

 The group has 42% of its hotels currently in operation, with 250 hotels opened since the end of April.

Accor added that it was seeing some "initial signs of business improvement" with revpar showing “some recovery” in China.