Accor : The group’s intrinsic qualities are not called into question by the current context in Asia-Pacific
>2019 results in line, ending a new year of transformation - Accor reported 2019 results in line with expectations, with EBITDA of € 825m, benefiting from lower-than-expected marketing spend (€ 45m vs € 55m) and the gradual improvement in the new businesses division, which was virtually at breakeven at year-end. Our adjusted EPS estimates (2019-2021e) have nonetheless been hit by heftier-than-expected D&A (IFRS 16 impact linked to Mövenpick and Mantra assets) and a s...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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