Accor SA ACRFF
Morningstar’s Analysis
1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
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Company Profile
Accor operates 753,000 rooms across over 30 brands addressing the economy through luxury segments, as of Dec. 31, 2020. Ibis (economy scale) is the largest brand (38% of total rooms at the end of 2020), followed by Novotel (14%) and Mercure (15%). FRHI offers additional luxury and North American exposure. After the sale of the majority of HotelInvest (owned assets) in 2018-19, the majority of total EBITDA comes from HotelServices (asset-light). Europe represents 46% of rooms, Asia-Pacific region 32%, Americas 13%, and the Mediterranean, Middle East, and Africa 9%. Economy and midscale are 74% of rooms.
Paris, 92130, France