(News Bulletin 247) – In a note on European hotel stocks, Stifel shows a preference for Accor, with a ‘buy’ recommendation and a target price of 33.83 euros, compared to its British peer InterContinental Hotels.
The broker says it expects the RevPAR (revenue per available room) momentum to continue for the French group, given its geographical mix which it considers attractive.
“We also see upside potential related to the expansion of the luxury and lifestyle platform, opportunities for cash redistribution and the completion of the transformation into an asset-light model,” he adds.
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