Accor : Accor devrait le plus bénéficier du vaccin au sein de l’hôtellerie asset light
>Newsflow vaccin positif : nous maintenons notre préférence pour Accor dans l’hôtellerie asset light - Depuis le début de la crise COVID-19, Accor sous-performe le secteur de l’hôtellerie asset light (-26% sur 1 an vs secteur à -1%), notamment en raison de son exposition plus importante à l’Europe, qui a agi sans réelle homogénéisation des restrictions entre les différents pays. Accor est également pénalisé par son exposition plus forte aux contrats de management (60%...Accor is a hotel operator. Co. offers its guests and partners the expertise of a hotel operator and brand franchisor (HotelServices) and a hotel owner and investor (HotelInvest). Co. divides its activities into three segments: Luxury-upscale, Midscale and Economy. Luxury-upscale makes up 11% of Co.'s portfolio and comprises brands such as Sofitel, Pullman, MGallery, and Grand Mercure; Midscale makes up 43% of its portfolio and comprises the Novotel, Suite Novotel, Mercure and Adagio brands; and Economy makes up 46% the Co.'s portfolio, comprising the brands ibis, ibis Styles, ibis budget and hotelF1. At Dec 31 2013 Co. operated around 3,600 hotels and 460,000 rooms in 92 countries.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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