Accor: Oddo's best pick in its sector
(CercleFinance.com) - Oddo highlights a 50% y-o-y drop in RevPAR in August in Europe after three months of almost no revenue for hoteliers.
This is a sequential improvement compared to -62% in July and -80/-90% between April and June.
In cumulative performance, and since the beginning of 2020, RevPAR has fallen by 59% in the region, compared with flat growth at the end of February. Occupancy rates vary between -41% and -52%, but average prices are quite different by country, with a drop of only 5% in Germany against -27% for the United Kingdom, Oddo says.
Oddo says that it remains convinced that in the recovery phase, it is profiles that are exposed to local demand, and in the conomy/intermediate segments (given down trading) that will do best. Analysts add that they still prefer Whitbread (Buy) and Accor (Buy).
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
This is a sequential improvement compared to -62% in July and -80/-90% between April and June.
In cumulative performance, and since the beginning of 2020, RevPAR has fallen by 59% in the region, compared with flat growth at the end of February. Occupancy rates vary between -41% and -52%, but average prices are quite different by country, with a drop of only 5% in Germany against -27% for the United Kingdom, Oddo says.
Oddo says that it remains convinced that in the recovery phase, it is profiles that are exposed to local demand, and in the conomy/intermediate segments (given down trading) that will do best. Analysts add that they still prefer Whitbread (Buy) and Accor (Buy).
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.