Accor : Feedback de roadshow (US) : Accélération attendue au S2 et des monétisations importantes d’actifs à venir
>Une guidance 2022 trop prudente - Malgré le solide rebond enregistré au premier semestre (EBITDA de 205 M€), Accor s’est fixé pour objectif un EBITDA supérieur à 550 M€ pour l’année 2022. Ceci constitue un « floor » et apparait très prudent à plusieurs égards, nonobstant un contexte économique et géopolitique incertain. Tout d’abord, la performance des RevPARs au S1 s’est avérée très proche de celle de 2019 (+0.6% L/L avec un fort contraste Q1 vs Q2). Ensuite, malgré...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.