(Boursier.com) — Accor lost 1% again to 40 euros this Wednesday, despite Citigroup which remains a buy with a price target which climbs to 46 euros. The hotel group had already benefited from significant support to the extent that UBS had already raised its opinion on the matter to ‘buy’ while increasing its target to 50 euros. “We are increasingly convinced that management will stay on the right path and execute the strategy announced in 2023,” said the bank. Note that on the contrary, AlphaValue is to be ‘reduced’ on the file with a price target adjusted to 45 euros after its recent flawless stock market performance, the stock having recently returned to its highest levels since the start of 2020…
The hotel group reported last week a record 2023 Gross Operating Surplus, at 1.003 billion euros (+49%), for a turnover of €5.056 billion, up 18% on a like-for-like basis. constant changes. Accor’s revenue per available room (RevPAR), a key indicator of hotel industry performance, jumped 23%. The Group’s share of net income stands at €633 million compared to €402 million in 2022. Based on the 2023 results, the dividend distribution policy implemented since 2019 (established on the basis of a distribution of 50% of the free recurring cash flow), and on the recommendation of the Board of Directors, Accor will submit for approval to the General Meeting of Shareholders on May 31 the payment of an ordinary dividend of 1.18 euros per share.
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