Accor: back to record high, BofA's favorite stock
(CercleFinance.com) - Accor shares were up on Friday, closing in on their all-time highs reached in 2015, with the stock being Bank of America's favorite for this year within the European hotel sector.
At around 4:30pm, the stock was up 0.6%, at its highest since April 2015, compared with a 0.3% gain for the SBF 120 index.
In a sector study, BofA analysts say they do not expect to see the favorable cycle currently driving the travel industry come to an end in 2025.
'Americans are not losing their appetite for vacations in Europe, which is supporting RevPAR growth in the region', explains the research firm.
At the same time, the business travel market continues to recover, and could also act as a growth driver", it adds.
In its note, BofA expects revenue per available room (RevPAR) to grow between 0% and 0% this year in Europe, China and the USA, with an even more pronounced rise in earnings per share (EPS) for hotel groups with asset-light models (+17.5% on average).
Analysts also point out that the stock market valuations of US hotel groups remain attractive, particularly in comparison with their US counterparts.
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