(AOF) – Accor announces the finalization of its share buyback program of 400 million euros announced on February 22, 2024. A first tranche of share buybacks covering 275 million euros was carried out through a contract signed with Jinjiang International on March 11, 2024, covering 7 million shares at a price of 39.22 euros each. The balance of the program, launched on March 20, 2024, for 125 million euros was finalized on April 4, 2024, with the acquisition of 2.92 million shares at an average price of 42.93 euros.
At the end of this program, the hotel group acquired 9.92 million shares at an average price of 40.31 euros. These actions will be canceled in the coming weeks.
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Global tourism still on the rise
Over the first nine months of 2022, 700 million tourists traveled internationally, more than double (+133%) the figure recorded for the same period in 2021. This figure reached 63% of 2019 levels , which should allow the sector to reach 65% of its pre-pandemic levels in 2022. This result is due to a high level of demand and the gradual lifting of restrictions in a large number of countries. Europe is significantly supporting this rebound with the arrival of 477 million people between January and September 2022 (68% of the global total), reaching 81% of the pre-covid level. Tourism there is driven by strong intra-regional demand and travel from the United States. Some destinations saw notable increases in revenue, including Serbia, Romania, Turkey, Latvia, Portugal, Pakistan, Mexico, Morocco and France.