AlphaValue Corporate Services Fundamental Analysis FR
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AlphaValue Corporate Services
This research has been commissioned and paid for by the company and is deemed to constitute an acceptable minor non-monetary benefit as defined in MiFID II

MyHotelMatch

CR
Bloomberg   MHM FP
Travel Services  /  France  Web Site   |   Investors Relation
Creating the hotel matching market against Booking.com
Pros
  • Facing Booking, Tripadvisor or Airbnb, MHM intervenes on the mature hotel market. It wants to build on two advantages: strengthening the customer & hotel experience, and the price competitiveness of its service
  • At the market scale, the creation of the MHM platform requires little investment until the proof of concept (about €20-25m by 2024-25)
  • Very high risk project, therefore with related leverage and expected return
Cons
  • The financing structure of the project, as well as the valuation, remain dependent on significant subsequent fundraising at the scale of the company
  • In its first stage (development of the application, deployment), the model requires high fixed costs, with significant operational losses
  • The speed of development, and therefore of revenue and the achievement of the operational break-even point, is highly dependent on a double effect of proliferation: reference hoteliers and client-matchers
Target
Upside 63.6%
Price (€) 0.03
Market Cap (€M) 6.51
Perf. 1W: -0.67%
Perf. 1M: 12.9%
Perf. 3M: 9.56%
Perf Ytd: -9.70%
10 day relative perf. to stoxx600: 8.17%
20 day relative perf. to stoxx600: 8.07%