Accor Buys Back Some Shares from Jinjiang
Skift Take
Accor announced a share repurchase agreement was reached to buy back a block of seven million of its own shares as part of the €400 million share buyback program of Accor for 2024.
The Macau Government Tourism Office said they expect the number of overseas arrivals this year to reach 60-70 percent of pre-Covid levels, with more than two million tourists visiting the city. Macau welcomed 1.46 million international visitors in 2023, a huge disappointment considering they gave so much incentive to their concession holder casinos to focus on international visitation. 2023 international visitors only reached 47.6% of pre-Covid levels. That prompted tourism officials to double and triple down on promotions. They plan to spend US$29.2 million this year on promotional campaigns and incentives targeting overseas markets, including giving 250,000 “gifts” to overseas travelers.
In February, the Macau unveiled the “My Treats for You” scheme which gives discounts and special offers for international tourists on air tickets, cross-border transportation, hotel accommodation, dining, entertainment and show tickets. 49% of the 250,000 “g
