Accor H1 2016 Sales grew +2% Like-for-Like while Ebit dropped -4% to EUR 239 Mln France is largest issue (makes for 25% of Company total Sales & Ebit) as Leisure traffic collapsed -50% since Nov 2015 Attacks (while Corporate was almost flat). Company has kept prices unchanged in Paris (big mistake according to us), declaring customers were scared to travel to France whatever the price of rooms was (Airbnb traffic jumped +86% Y-oY in June, July, August 2016 in France…)
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The Big Short !
Accor H1 2016 Sales grew +2% Like-for-Like while Ebit dropped -4% to EUR 239 Mln France is largest issue (makes for 25% of Company total Sales & Ebit) as Leisure traffic collapsed -50% since Nov 2015 Attacks (while Corporate was almost flat). Company has kept prices unchanged in Paris (big mistake according to us), declaring customers were scared to travel to France whatever the price of rooms was (Airbnb traffic jumped +86% Y-oY in June, July, August 2016 in France…)