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ACRFF - Accor SA: COVID Headwinds More Than Reflected In Cheap Share Price
Accor SA
Global hotel firm Accor has seen its business hit especially hard by COVID.
The recovery is going to be a slow one. Results were much improved in 1H 2021 versus last year but remain significantly lower than before COVID.
The share price more than makes up for this, though. A growing room count, margin expansion and capital returns to shareholders can lead to long-term double-digit annualized returns.