Airbnb's (NASDAQ: ABNB) asset-lite business model generates a growing annual free cash flow figure, fueling stock buybacks.
As demand continued to recover, Accor's debt/adjusted EBITDA reached 3.9 times in 2022, 2.5 times in 2023, and 2.8 times in 2024. In 2023, Fitch Ratings upgraded Accor's debt to investment-grade.
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