Accor has published very reassuring H1 19 results following a weak Q1. The strong RevPAR improvement in Q2 was mainly driven by the robust leisure demand and favourable fair calendar in Europe, along with solid growth momentum in South America (83% of the business is in Brazil), which have been partially offset by the continued weakness in Asia Pacific. However, on the back of a strong Q2, the conservative EBITDA guidance for FY was a little disappointing.
01 Aug 2019
Conservative FY 19 guidance following the strong Q2
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Conservative FY 19 guidance following the strong Q2
Accor has published very reassuring H1 19 results following a weak Q1. The strong RevPAR improvement in Q2 was mainly driven by the robust leisure demand and favourable fair calendar in Europe, along with solid growth momentum in South America (83% of the business is in Brazil), which have been partially offset by the continued weakness in Asia Pacific. However, on the back of a strong Q2, the conservative EBITDA guidance for FY was a little disappointing.