Report
Johanna Jourdain ...
  • Matthias Desmarais

Accor : RevPAR France at +2.7% in December, solid resilience in the market despite the strikes – positive read across on Accor (Buy)

>RevPAR growth of +2.7% in December, +1.8% for 2019 - RevPAR in France grew by 2.7% in December 2019 (vs December 2018) according to the preliminary data published by OlaKala, thanks to price inflation of +1.6% and a slight improvement in occupancy rates (+0.6 pt). This is a very encouraging performance, given the ongoing industrial action in France which had a negative impact, but it benefited from a fairly easy comps (+2.6% in December 2018 as a result of the Gilets...
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
Johanna Jourdain

Matthias Desmarais

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