Accorinvest Wont Back French State Loan
AccorInvest, the real estate offshoot of French hotel group Accor has explored the possibility of tapping a French government-guaranteed loan programme but had decided not to pursue an aid package for now AccorInvest is in talks with several banks over a 400 million to 500 million euro ($435 million to $544 million) government-guaranteed loan. AccorInvest owns and leases hotels and is only minority-owned by Accor, which operates brands like Ibis and has said it has enough liquidity to see it through the crisis even though reservations have tanked and travel has ground to a halt.
Tags : INTERNATIONAL Real Estate Government liquidity Accorinvest French hotel group Accor Ibis