Accor Denies Allegations Amidst Stock Slide

Accor, the well-known hotel group, has strongly denied allegations of involvement in exploitation and child trafficking leveled by Grizzly Research, a short seller. The company announced an internal investigation, augmented by an external firm's verification of the facts, to ensure transparency.

Shares in the hospitality giant dropped by up to 10% following the release of Grizzly Research's report. The short seller claimed there was a lack of safeguards in Accor's booking process, highlighting that roughly 40 out of almost 250 hotels seemingly complied with suspicious reservation requests. The accusations remain unverified by Reuters.

In response, Accor reiterated its commitment to combating human trafficking and the sexual exploitation of children, highlighting its stringent policies, processes, and routine audits. The group assures that any confirmed allegations will lead to appropriate measures, including possible legal actions.