Paris (AFP)
The hotel giant AccorInvest, ex-subsidiary of Accor weakened by the Covid-19 pandemic, will obtain a guaranteed loan from the State (PGE) of 500 million euros, announced Tuesday the Minister of the Economy Bruno Le Mayor.
"AccorInvest (...) is in great financial difficulty (...) so we will indeed grant a loan guaranteed by the State to AccorInvest of half a billion euros", declared Mr. Le Maire on Radio Classic.
The validation of this EMP is "in the very last straight line", specified the minister.
AccorInvest operates nearly 900 hotels under different brands of the French hotel giant (Ibis, Novotel, Mercure ...) in 28 countries.
Weakened by the Covid-19 pandemic which cut its turnover by 70%, the company announced in mid-January that it was considering the elimination of 1,900 jobs in Europe, including around 770 in France.
The group had also requested a loan guaranteed by the State (PGE) of 470 million euros and had indicated that it was considering a capital increase of the same magnitude.
© 2021 AFP