Accor : Publication S1 décevante mais les perspectives restent positives
>EBITDA S1 22 décevant, en décalage de la performance topline - Accor a publié hier avant Bourse des résultats S1 22 qui sont ressortis en dessous des attentes pour l’EBITDA (205 M€, -7% vs consensus) alors que la croissance des RevPAR était une bonne surprise (-11% vs 2019 vs consensus -16%). Le groupe a justifié ce décalage par l’impact de dépenses marketing importantes engagées au S1 (que nous estimons à plusieurs dizaines de M€), qui ne se reproduiront pas avec un...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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