CONFIRMATION OF MEDIUM-TERM GROWTH AMBITIONS
 * * *
REVPAR UP 4.2% FOR FY 2025, INCLUDING A 7.0% INCREASE IN THE FOURTH QUARTER
NET UNIT GROWTH OF 3.7%
RECURRING EBITDA UP 13% AT CONSTANT CURRENCY, AT €1,201 MILLION
M&F RECURRING EBITDA MARGIN UP 100 BASIS POINTS 
ADJUSTED EPS UP 16%
€450 MILLION SHARE BUYBACK PROGRAM ANNOUNCED FOR 2026