Report
Accor : Booster project: Done! What’s next ?
The implementation of the Booster project has taken longer than expected, but the latest announcements were in line with our projections. - From an operating standpoint, Accorhotels posted a good set of 2017 results and should continue to deliver satisfactory performances this year (EBITDA estimated to be up 15%), driven by momentum in hotel openings and, more generally, by a better tourism market. - Overall, we continue to believe that Accorhotels' credit profile will be stronger once the sale of a 55% stake in AccorInvest is completed, even though S&P has decided to affirm its rating at BBB- with stable outlook. - - - - - - - - - - - - - - >
Underlying
Accordia Golf Co.Ltd
Provider
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.
Delphine Chauvin
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