Accor Shares Tumble after Dubai Hotel Hit During Iran Strikes -- Market Talk
Dow Jones
Mar 02
1318 GMT - European hotel stocks fall sharply following the outbreak of widespread conflict in the Middle East. A Dubai hotel owned by Fairmont, a subsidiary of the Accor Group, was struck by an explosion on Saturday. Accor is the most exposed of European hotel groups to the Middle East conflict given around 8% of its footprint is in the Middle East, Berenberg analysts write. IHG is the second-most affected, as the analysts calculate around 5% of the group's rooms are in the Middle East. Accor shares fall 9.5%, while IHG drops 4.6%. (josephmichael.stonor@wsj.com)
(END) Dow Jones Newswires
March 02, 2026 08:18 ET (13:18 GMT)
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