Accor Share Falls 2.5% and Drops Below Its 20 and 50-Day Moving Averages
The hotel group released its first-half accounts this morning, marked by improved profitability but a slowdown in RevPAR in the second quarter. The stock is in red while the Paris exchange is trading in the green.
A Quarterly RevPAR Decline That Weighs on First-Half Performance
The Accor share loses 2.43% to €46.14, against a CAC 40 up 1.03%. The stock ranks among the notable declines in the index as the group published its half-year results this morning. Recurring EBITDA for the first half increased 6.5% at constant exchange rates, to €563 million, and recurring Free Cash Flow surged 42% to €194 million.
The half-year RevPAR gained 2.2%, but declined 0.2% in the second quarter alone, with the Middle East conflict causing activity in the United Arab Emirates to plunge nearly 40% by the end of the quarter. The group confirms its annual guidance and targets recurring EBITDA between €1,260 million and €1,285 million. Today's decline extends the monthly loss of 7.98%, while the stock still shows a three-month gain of 10.15%.
The Stock Falls Below Its Short-Term Moving Averages and Approaches Its Support Level
The price drops below its 20 and 50-day moving averages, located at €47.75 and €47.51 respectively, representing a gap of approximately 3% below these levels. The 200-day MA at €45.82 still holds, with the share trading 0.70% above this longer-term benchmark. The RSI at 50 reflects a market without directional tension, while the MACD remains negatively oriented.
The support level identified at €45.37 is the next technical marker in case of continued decline. The stock is also returning to the level of July 24, the day of the announcement of the sale of the 30.7% stake in Essendi to Blackstone and Colony IM for €675 million.
