Hotels group Accor secures 560 million euros credit line, sees some signs of recovery

PARIS (Reuters) – French hotel company Accor – one of many in the tourism sector to have been hit hard by the impact of the coronavirus – said on Monday it had secured a new 560 million euros ($605.9 million) banking credit facility.

Accor, whose hotels include Sofitel and Ibis, said the new credit facility had been underwritten by BNP Paribas , Crdit Agricole CIB , Crdit Industriel et Commercial (CIC), Natixis and Societe Generale .

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)

(Reporting by Sudip Kar-Gupta; Editing by Kim Coghill)