Feb 22 Reuters Europe39;s biggest hotel group Accor posted a biggerthanexpected jump in annual core profit on Thursday, boosted by strong performances across all its markets, and forecast an upbeat 2024, driven by major international events.

The sector continues to benefit from the postpandemic boom in leisure travel despite inflation and the resurgence of recession fears in Europe, while business travel is gradually recovering. Accord said the current year will be rich in international events such as the Olympic Games in Paris and Euro 2024 in Germany.

We have made an encouraging start to 2024, with an increase in occupancy rates and prices, which are holding up well, and renewed confidence in our ability to generate and share growth, CFO Martine Gerow said in a call with journalists.

Accor, which operates across more than 110 countries, confirmed its mediumterm growth prospects announced in June, including a share buyback program for an amount of around 400 million euros 433.52 million to be launched during 2024.

The company also set a dividend of 1.18 euros per share.

The Middle East continued to post solid price increases driven by leisure demand, despite the conflict in Israel, which had very little impact on Accor39;s performance in the fourth quarter, Gerow said.

The operator of brands including Ibis and Novotel said its earnings before interest, taxes, depreciation and amortisation jumped 49 to 1 billion euros last year, above the 986 million euros…