Accor shares slump on FX woes

Accor SA

31/07/2025 08:55

** Shares in Accor ACCP.PA drop 10% after the French hotel operator on Thursday reported a "mixed" set of H1 figures and flagged a bigger-than-expected currency effect on the full year results

** "We expect shares to react negatively first thing to the larger-than-expected FX headwind and NUG guidance slightly weaker than expected," Jefferies says

** Accor quantified the FX impact on the full-year at EUR 60 mln, and kept net unit growth (NUG) guide untouched at around 3.5%

** "Accor's new guidance now incorporates negative FX, implying a close to 3% cut to BBG consensus EBITDA estimate" J.P.Morgan points out

** Both brokers deem Accor's H1 results mixed with EBITDA a little ahead, while Q2 RevPAR below expectations at 4.1% against a company-provided consensus of 4.7%

** The stock is on track for its worst day in three years

 (Reporting by Johan Bodinier in Gdansk)

 ((johangeorgesroger.bodinier@thomsonreuters.com))