Accor delivers Q3 beat, raises guidance, Jefferies reaffirms 'buy' By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 25 2024
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Source: Investing.com
Strong Q3 Performance: Accor reported third-quarter revenues of €1,434 million, exceeding market expectations, driven by growth in Luxury & Lifestyle brands and the impact of the Olympic Games in France. RevPAR rose 5.3%, slightly above estimates, while net unit growth was at 3.2%.
Future Outlook and Strategy: The company maintains its FY24 guidance with expected RevPAR growth of 4%-5% and continues to streamline operations through divestments, including its stake in AccorInvest. Analysts remain positive, reaffirming a "buy" rating due to Accor's strong growth and profitability compared to peers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
