|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||37.88 - 39.13|
|52 Week Range||32.39 - 41.75|
|Beta (3Y Monthly)||0.98|
|PE Ratio (TTM)||68.97|
|Earnings Date||Jul 24, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||1.05 (2.77%)|
|1y Target Est||49.50|
Oct.17 -- Sebastien Bazin, chairman and chief executive officer at Accor, discusses the reopening of the Raffles Hotel in Singapore, how global tensions are impacting business and the industry, where he’s seeing the most growth and their business strategy in Europe. He speaks exclusively on “Bloomberg Markets: China Open.”
Here’s a quick test: Which global hotel chain has the most number of brands? Most people would probably say Marriott International after it acquired Starwood Hotels & Resorts. But Accor actually has more brands than Marriott today, thanks to its acquisitive chairman and CEO Sébastien Bazin, who has also encouraged the birth of new Accor […]
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Accor Hotels caught the Singapore hotel industry by surprise with its latest deal with Global Premium Hotels, which operates Fragrance Hotel, a low budget brand that has a tinge of sleaze as many of its properties rent by the hour and are commonly used for sex. These so-called love hotels exist everywhere in the world; […]
Oyo Hotels & Homes has a competitor in Accor Hotels, which has just inked a deal to franchise 15 budget hotels in Singapore which are branded Fragrance Hotel. Even before there was an Oyo, or the other foremost Southeast Asia budget chain RedDoorz, Fragrance was offering “good price, location [note that in many cases this […]The post Accor's Franchise Deal in Singapore Underscores Mounting Challenges for Budget Chain Oyo appeared first on Skift.
(Bloomberg Opinion) -- The co-founders of India’s No. 1 airline are engaged in a bitter feud. Their quarrel couldn’t have come at a worse time for minority shareholders of InterGlobe Aviation Ltd., the company that owns IndiGo. Investors were just starting to enjoy the fruits of a frenetic expansion that saw the no-frills carrier, Asia’s largest, double its capacity in the three years through March. Full-cost rival Jet Airways India Ltd. tried to keep up, until it was forced to ground its last plane in April under a truckload of debt. Meanwhile, InterGlobe has put together a cash war chest — net of debt — of nearly $2 billion. This is the time for IndiGo to be rewarding shareholders by consolidating its leadership position and filling the gap left by Jet, especially on overseas routes. Instead, the founders are busy picking fights.Rakesh Gangwal, a former CEO of U.S. Airways Group Inc., has dashed off a letter to the Indian stock-market regulator alleging corporate-governance lapses. He says partner Rahul Bhatia, who owns 1 percentage point more than U.S.-based Gangwal’s 37% stake, is dragging IndiGo into transactions with his other businesses, which are mostly housed under InterGlobe Enterprises Ltd. (IGE Group), without adequate auditing. The airline pays rent to IGE’s real-estate unit; the crew stays at hotels operated by Bhatia’s joint venture with Accor SA; pilots are trained at IGE’s flight simulator, a collaboration with Canada’s CAE Inc.; a Bhatia firm has also acted as a sales agent for IndiGo.What amounted to $22 million of related-party transactions, for a carrier that took in $4 billion in annual revenue, doesn’t exactly smack of a governance scandal. Not at an airline that thrives on keeping its costs under control. Bhatia, for his part, wants to know why Gangwal is questioning the arrangements now when he “did not raise for 13 years a whisper.” The India-based partner says he took most of the economic risk when setting up the airline. Besides, Gangwal isn’t denying entering into a shareholders’ agreement that gives Bhatia control, including the power to nominate half of the six-member board and most of the top managers. Gangwal’s letter mentions whistleblowers. Unless those charges are serious and material, the battle looks more about monetizing a business that he never wanted any part of until a persistent Bhatia talked him into it. Today, the co-founders can be legitimately proud of IndiGo, a rare success story in global aviation, achieved in a brutally price-competitive and fast-growing market. The problem seems to be about dividing up that success fairly. It probably rankles billionaire Gangwal, the strategy whiz, that his 37% stake is perhaps worth less than the market value of roughly $3 billion, while his money-man (former) friend’s 38% stake is worth much more.(1) After all, any airline or a buyout firm willing to write that big a check would want a measure of influence over the airline’s future: That’s something only Bhatia can give. If that’s the real reason Gangwal is seeking to enlist the regulator’s help “to make necessary changes to the unusual controlling rights available to the IGE Group,” then it’s a failure of mediation.From the shareholders’ perspective, it’s a dangerous lapse. Indians’ trust in business and business tycoons, finance and financiers, accounts and auditors has probably never been lower. Any suggestion of impropriety now can spiral out of control. No wonder the infighting dragged InterGlobe shares down nearly 11% on Wednesday, as investors braced themselves for a protracted and unpleasant legal and public-relations skirmish – much like the one that flared up at the Tata Group in 2016, after it fired then-Chairman Cyrus Mistry, who also happened to be a large shareholder.IndiGo became No. 1 by making flights take off and land on time more often than most other large global airlines. To investors’ horror, the messiness the carrier so studiously avoided in its operations – by relying on a single type of aircraft (the narrow-bodied Airbus), deploying its fleet efficiently and growing it strategically – has finally come back to haunt it. Not at the tarmac, but in the boardroom. (1) The total market capitalizationis about $8 billion.To contact the author of this story: Andy Mukherjee at email@example.comTo contact the editor responsible for this story: Rachel Rosenthal at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
U.S. hospitality group Host Hotels & Resorts Inc plans to sell its three hotels in Rio de Janeiro and exit the Brazil market, three people familiar with the matter said, as it unloads weaker assets and focuses on its core North American operations. The decision underscores how investments made in Rio ahead of the 2016 Olympic Games have turned into white elephants in a city plagued by rising violence and public finances in disarray. In 1993, the Marriott Corp split into two publicly held companies, investing the lodging real estate in Host Marriott, later renamed to Host Hotels.
Goldman Sachs is in talks to buy B&B Hotels from private equity firm PAI Partners, the companies said on Monday, in a deal which an earlier report from the Financial Times said could be worth 1.9 billion ...
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! Passive investing in an index fund is a good way to ensure your own returns roughly match the overal...
“So, have you heard that Marriott might buy Accor?” That’s what a trusted former colleague and hospitality industry expert told me last week, after hearing the same from multiple sources. At first, it seemed highly improbable, perhaps even incredulous. Like Bernstein Senior Analyst Richard Clarke, who covers European hotels and leisure, my initial reaction was: […] The post Is Accor the Next Starwood? What’s Next for Hotel Mergers appeared first on Skift.
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Sébastien Bazin has been the CEO of Accor SA (EPA:AC) since 2013. This analysis aims first to contrast CEO compens...
Marriott International executives know what people have thought about its dining options for the past few years or, well, decades. Namely, that the food and bar options were likely consistent and convenient, but that's simply code for "boring" and "uninspired." They are so aware of this commonly held conception of the hotel restaurant — a […]
You might think that the co-founder of a lifestyle hotel brand like 25hours might embrace emerging hospitality concepts such as homesharing, co-living, and co-working. But for Christoph Hoffman, CEO of Hamburg-based 25hours Hotels — even though those ideas might be dominating chatter among investors and developers — there’s a danger in everyone chasing the same […] The post Co-Living and Co-Working Are Gimmicks, Declares 25hours Hotels CEO appeared first on Skift.
The chief executive of Accor said it would be complicated for the French hotels group if Chinese shareholder and fellow hotel operator Shanghai Jin Jiang Hotels sought a board seat. CEO Sebastien Bazin told French weekend newspaper Le Journal du Dimanche that the Chinese group had not so far requested a board seat at Accor, whose portfolio include Raffles, Sofitel and Pullman hotels. The Chinese group is Accor's biggest shareholder with a nearly 12 percent stake and voting rights of nearly 18 percent, according to a regulatory filing last October.