EU TRANSPORTATION: Accor | 1Q results
Apr-24 16:13
(ACFP; NR/BBB-/BBB- Pos)
"In a volatile political and consumer environment, the global demand in the hospitality sector remained sustained during the first quarter of 2025."
- Premium & economy RevPar +3.4% driven by prices
- France slight decline, UK decline, Germany moderate to up, Middle East and APAC +4.6% and Americas (mainly Brazil) continued strong growth
- UK weakness it says on "weak confidence in the country's economic situation" - not great read-through for pure UK player
- Whitbread (£ issuer, earnings 1st May)
- Luxury RevPar +8.3% driven by 2/3 prices and 1/3 by improving occupancy
- Net group revenue +9.2%
Medium term outlook confirmed which will mean:
- RevPar growth of +3-4%
- adj. EBITDA growth of +9-12%
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EURIBOR OPTIONS: Call Spread Unwind
Mar-25 16:12
ERM5 97.875 / 98.00 call spread, sold for 4 in 10k. Market contact suggests this is an unwind of an existing position.
GBP: GBPCAD: Tariff Risks Boost Cross to Near Nine-Year Highs
Mar-25 16:11
- Tariff-related pessimism and domestic political uncertainty have left the Canadian dollar at the bottom of the G10 pile in 2025. GBPCAD remains 6% above the January lows, and the March high at 1.8779 represented a near nine-year high for the cross.
- In similar vein to GBPAUD, moving average indicators remain in a bull-mode position, and the latest pullback has allowed the 20-day EMA to provide solid support so far. The average currently intersects at 1.8453.
Source for all charts: MNI/Bloomberg
(Green lines represent 20- and 50-day exponential moving averages)
FED: US TSY TO SELL $75.000 BLN 8W BILL MAR 27, SETTLE APR 01
Mar-25 16:05
- US TSY TO SELL $75.000 BLN 8W BILL MAR 27, SETTLE APR 01
Related by topic
EU Transportation
Credit Sector
ACFP
France
