Kepler cuts Accor rating, cites concerns over US travel slowdown

Accor SA

10/04/2025 11:22

** Kepler Cheuvreux downgrades French hotel operator Accor ACCP.PA to "hold" from "buy", citing concerns about a slowdown in U.S. travel

** Broker cites cautious airline commentary on U.S. travel, softening occupancy, and the rise of alternative accommodations

** But Kepler notes that the group remains better positioned than peers, thanks to its more defensive regional exposure, with 50% of rooms outside Europe and the U.S.

** Out of 18 analysts that cover Accor, 15 rate the stock "strong buy" or "buy,"​ 3 rate "hold"

(Reporting by Hugo Lhomedet)

((Hugo.Lhomedet@thomsonreuters.com;))