|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||31.37 - 31.69|
|52-week range||20.47 - 32.97|
|Beta (5Y monthly)||1.30|
|PE ratio (TTM)||25.76|
|Earnings date||26 Jul 2023 - 31 Jul 2023|
|Forward dividend & yield||0.71 (2.28%)|
|Ex-dividend date||23 May 2023|
|1y target est||35.30|
Not a bad payday, considering the partial exit yields a substantial six-fold return for H World Group. However, the heightened scrutiny on startup valuations has kept a lid on gains for Oyo.
When Accor sneezes, the global hotel industry catches a cold. The Paris-based hotel giant sounds healthy.
(Reuters) -Europe's biggest hotel group Accor said on Thursday it expects double digit growth in a key revenue measure in 2023, citing a good start to the year and the end of China's zero-COVID policy. The hotel industry has benefited from higher prices and a rebound in travel demand in the wake of the pandemic, with consumers rushing to travel even as rising interest rates stoke fears of a recession and inflation continues to erode household purchasing power. "Consumers' desire to travel has never been stronger," deputy CEO Jean-Jacques Morin said on call with journalists.
Fairmont is a luxury brand that has been underperforming its potential in its development pipeline. Can a new CEO and management team with a new strategy improve things?
The travel sector has been grappling with the subscription model for a few years. But Accor is the first major hotel group to roll out global paid subscription cards, giving guests access to discounts and perks at hotels worldwide.
The chief executive of Accor, the French owner of the Orient Express and Novotel hotels, has claimed pulling out of Russia is “not an option” unless he is forced to by more stringent sanctions.
Accor executives believe their competitive advantage is becoming more apparent as U.S.-based hotel groups go abroad to expand. They claim to have a more global organizational footprint and a better sense of what hotels need to profit in many non-U.S. markets.
(Reuters) -Europe's biggest hotel group Accor on Thursday forecast higher revenue per available room (RevPAR) for 2023 as Chinese travelers are expected to return, after its annual core profit beat expectations on strong December activity. Hotel chains were hit hard by China's strict pandemic restrictions and are now hoping for a recovery in the Asia-Pacific region, Accor's second biggest market pre-pandemic. The group, which runs chains such as Sofitel, Pullman and Ibis, said it expected 2023 RevPAR to increase by between 5% and 9% from the previous year.
Many hotels needed refurbishment after the pandemic chaos, and Accor needed a refurb of its own. CEO Sébastien Bazin argues that his latest reorganization gives Accor the capability to become the world leader in luxury while preparing for a hybrid hospitality future.
Accor isn't the first large hotel company to let members of its loyalty program book independently designed lifestyle hotels. But it is the first to move the concept downscale in rate and amenities. Can it democratize access to quirky hotels worldwide?
The summer in Europe and the U.S. has been especially good for tourism, and in turn for Accor. The Paris-based operator of about 5,357 hotels globally regained its pre-pandemic performance on key financial measures. This enhanced pricing power could help insulate the lodging company from rising inflation, by offsetting those costs with revenue gains on […]
Europe's biggest hotel group Accor reported higher than expected third-quarter revenue per available room (RevPAR) on Wednesday, continuing a sharp improvement in activity since the start of the year after a "gorgeous" summer season. The easing of COVID-19 curbs earlier this year led to a boom in travel demand after more than two years of restrictions, allowing the hospitality sector to increase its profit forecasts and report higher revenue per available room. U.S. tourists travelling to Europe took advantage of the dollar's strength against the euro and other currencies, Chief Financial Officer Jean-Jacques Morin said on a call with journalists.
Reflecting on post-pandemic trends that will last, Ennismore founder and co-CEO Sharan Pasricha anticipates that real estate owners will continue to want to split their income streams across coworking, food-and-beverage, and lifestyle hotels for years to come. “Hotel owners like the diversification of revenue,” said Pasricha on-stage at Skift Global Forum in New York City on September […]
With Accor‘s backing, Ennismore has been building out lifestyle hotels and co-working spaces that have benefited from travelers increasingly blending their business and leisure trips, called the Great Merging. “Hotel owners like the diversification of revenue,” said Ennismore founder and co-CEO Sharan Pasricha on Tuesday at Skift Global Forum in New York City. “At our […]
Who needs another lifestyle brand? Consumers and developers, that’s who — if you follow recent activity across the hotel industry. Ennismore’s history began in 2011, but the lifestyle hotel leader it has quickly become is the result of a joint venture with Accor first announced in 2020. That partnership, finalized in 2021, brought together brands […]
Accor, the Paris-based operator of about 5,300 hotels globally, said on Thursday as hotel stays surpassed pre-pandemic levels for the first time in the second quarter across all regions and brands. The internationally exposed company has seen a recovery despite the absence of Chinese and Japanese outbound travelers. “We’ve been missing those Chinese travelers ever […]
(Reuters) -Europe's biggest hotel group Accor's shares sank more than 9% on Thursday after giving a disappointing 2022 profit outlook that overshadowed a big jump in half-year revenue. The company said it expected to report full-year core earnings (EBITDA) of more than 550 million euros ($561 million), compared with 22 million last year, after its second-quarter revenue per available room (RevPAR) exceeded pre-COVID levels for the first time. "We had expected more than 600 million euros given the strong recent data, so the guidance is either conservative on RevPAR (implied negative in H2) or factors in further cost or marketing pressure," analysts at Morgan Stanley said.
(Bloomberg) -- Russia faces yet another bond payment test this week, with just days remaining before it potentially slides into its first foreign default in a century. Interest transfers totaling almost $400 million are due Thursday and Friday.Most Read from BloombergJuul’s Vaping Products Are Ordered Off the Market in the USElon Musk Says New Tesla Plants Are ‘Money Furnaces’ Losing BillionsRecession Worries Boost Treasuries; Stocks Advance: Markets WrapThe World’s Bubbliest Housing Markets Are
Accor said on Tuesday it has begun exclusive talks to sell an 11 percent stake in its Ennismore joint venture to a consortium of Qatari investors. The transaction currently estimates the stake value at $195 million (€185 million) The transaction would include $21 million of financing by Qatar First Bank. The deal requires regulatory approval […]
PARIS (Reuters) -French hotels group Accor is to sell a 10.8% stake in Ennismore to a Qatari consortium for 185 million euros ($195 million), the French hotels group said Tuesday. Accor said the deal valued Ennismore, known for Hoxton hotels in London and New York and Mama Shelter rooftop bars in Paris, at more than 2 billion euros, showing growing interest in high-end lifestyle brands even as the cost of living soars. Accor also said it was merging its stakes in hotel brand Rixos and upscale restaurant operator Paris Society into Ennismore, which the group jointly founded with Sharan Pasricha in October 2021.
Accor’s co-working brand Wojo has set its sights on sub-Saharan Africa, after signing a deal with hotel investment platform Kasada Capital Management. It’s the first time that Wojo, which the hotel giant co-owns with French real estate company Bouygues, will enter the continent after expansion in Europe and Latin America over the past two years. […]