In December 2023, the Group has signed a new undrawn confirmed credit line for €1,000 million for five years with a two-year extension period, exercisable in 2024 and 2025. This line replaces the undrawn credit line of €1,200 million concluded in June 2018. The first extension option has been exercised in December 2024 bearing the maturity of the undrawn credit line until December 2029.

The €1,000 million undrawn credit line does not contain any early repayment clause but is subject to retaining its “Investment Grade” rating.

In 2024, Accor redeemed the remaining €357 million balance of the €600 million bond issued in January 2017, which matured in January 2024. On March 11, 2024, the Group issued a bond for €600 million, with a 3.875% coupon, maturing in March 2031. In August 2024, Accor refinanced partially (70.46%) the €500 million hybrid bonds issued in October 2019 and placed a new €500 million perpetual hybrid bond issue with a 4.875% coupon.

As at December 31, 2024, Accor has a stable financial structure, with net cash and cash equivalent of €1,244 million. 
As at December 31, 2024, Accor has a short-term financing program in the form of negotiable commercial papers (NEU CP) capped at €750 million. This program is drawn for €299 million, representing an increase of €8 million compared to December 31, 2023.

As at December 31, 2024, 95% of bonds and bank borrowings were at fixed rate and 5% were at a variable rate. The fixed rate debt is denominated primarily in euro. The average rate of bonds and bank borrowings debt is equivalent to 2.53%.

Accor experienced a significant return of business during 2021 following the relaxation of health-related restrictions. This change of business activity is reflected as an increase in emissions between 2020 and 2021. As business activity returns to 2019 levels, further emission increases are anticipated in 2022. Accor is investing heavily in new capabilities in the form of tools and resources to enable hotels to reduce emissions. The benefits of these capabilities will progressively reduce emission over the coming years and enable the Group to achieve the published KPIs and targets.

Both scopes 1 & 2 and scope 3 emissions during 2021 are below the 2025 and 2030 emission reduction trajectory: