Report
Delphine Chauvin

Accor : L’IG en ligne de mire ?

Accor a été lourdement impacté par la crise du covid pendant deux ans mais sa situation financière a été protégée par une liquidité très confortable qui lui a permis de faire face à cette chute sans précédent de son activité. Avec la reprise des voyages et une structure de coût redimensionnée, Accor retrouve de la capacité à générer du free cash-flow et le désendettement peut reprendre. Des cessions d’actifs pourraient également accélérer le renforcement des ratios de crédit. - - §...
Underlying
Accor SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Delphine Chauvin

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