(CercleFinance.com) – Oddo BHF believes that the group ‘will benefit from the recovery in the hotel industry, thanks to its strong exposure to domestic customers’.
“We believe, in fact, that Accor will return to its 2019 RevPAR levels in 2024 (2022 expected at -26%) even if the current data suggests a better year than expected in 2022”, specifies the analyst.
The design office also mentions as assets of the file, an acceleration of the conversions of independent hoteliers towards the hotel chain, its solid financial situation and its significant exposure to management contracts.
Oddo maintains its ‘outperformance’ opinion and its target price of 36 euros on Accor.
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