Accor raises profit guidance as it sells Paris headquarters

- European hotel group Accor on Wednesday raised its profit guidance for 2022 as it also announced it would sell its French headquarters in a sale-and-leaseback deal.

The French firm expects earnings before interests, taxes, depreciation and amortisation (EBITDA) to come in between 610 and 640 million euros ($590.5-619.6 million) this year, up from the "above 550 million euros" initially forecast.

It also announced that it entered into exclusive negotiations with Valesco Group to sell its Paris headquarters building, the Sequana Tower, for 465 million euros.

($1 = 1.0330 euros)