Accor : What to expect from the 2019 results publication (20 February before market)?
>RevPAR trends unchanged in Q4: +2.1% in 2019e. - Accor is due to publish its 2019 results on 20 February before market. We forecast RevPAR growth of 2.1% in 2019e, suggesting 0.6% in Q4 after 0.7% in Q3. The trends observed in Q3 look set to continue. In Europe (+2.7%e in 2019 of which +1.0%e in Q4), France should slow down in Q4 (a weak month in October) as should the UK while we are expecting a slight improvement in Germany. North America should accelerate slightly...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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