Streetbeat News

ACCYY

Accor

https://group.accor.com/

CEO

Sebastien Bazin

Industry

Travel Agencies

Open

8.84

Mkt cap

11B

Volume

145

High

8.85

P/E Ratio

18.83

52-wk high

9.62

Low

8.84

Div yield

0.03

52-wk low

6.89

Travel + Leisure Co. has agreed to acquire the vacation ownership business of Accor for $48.4 million. The acquisition is expected to be immediately accretive to Travel + Leisure Co. and aligns with their strategy of expanding their vacation brand portfolio. This deal also sets the stage for the development of new timeshare products in the Asia Pacific, Middle East, Africa, and Turkey regions under the Accor Vacation Club brand.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 6:25 am

Morgan Stanley's 21st annual Global Hotel Corporate Travel Survey indicates a positive outlook for the hotel industry. The survey found that 2024 travel budgets are expected to be 8% above 2023, well above consensus expectations for 2% RevPAR growth. About 40% of respondents have returned to pre-COVID travel levels. Room rates are expected to increase by 5% YoY in 2024, with 5-6% growth expected for major global chains like Marriott, Hilton, InterContinental Hotels Group, and Accor SA. The shift to virtual meetings is declining, providing a tailwind to spend.

Portfolio Pulse from Shivani Kumaresan

November 06, 2023 | 6:46 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.