Accor: Feedback Q2 revenue conference call: More favourable trend. Disappointment on expansion
After stable Q1 revenue with lfl revenue growth of -0.1% (o/w -0.2% for hotels), more positive figures in Q2 with total revenue of EUR1,467m, down 0.5% with lfl growth of 3.3% (o/w 3.3% for hotels) vs. EUR1,480m from the consensus with a lfl revenue growth of 2%. All in all H1 total revenue reached EUR2,694m, down 0.9% on reported and up 1.8% on lfl (o/w 1.7% for hotels). Ahead, management confirmed same trend in July and August as the one in Q2.
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