April 20, 2018 / 10:23 AM / a month ago

BRIEF-AccorHotels CEO sees no exceptional dividend but acquisitions

April 20 (Reuters) - Accor SA CEO Sebastien Bazin tells shareholders when asked about use of 4.4 billion euros in cash generated by sale of 55 pct stake of AccorInvest property businesss:

* Says best use of cash is making acquisitions, group decided not appropriate to have exceptional dividend

* Group has already anounced will return cash to shareholders through 1.35 billion euros in share buybacks, group prefers to reward shareholdrs loyalty

* AccorHotels could see its operating profit double as well as its share price double within 5 years Source text for Eikon: Further company coverage: (Reporting By Dominique Vidalon)

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