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Verrazzano's Rambourg says Accor his top buy in Europe

Reuters

LONDON (Reuters) - Guillaume Rambourg, founding partner of hedge fund Verrazzano Capital, said he sees between 35 percent and 60 percent upside in the value of Accor (ACCP.PA), his top pick in Europe.

Rambourg told the Sohn Conference in London, produced by Bloomberg, that he saw 14 percent earnings growth over the next year.

He said the company had not been well managed in the past but that the new management, coming from private equity, were "very clear in what they wanted to achieve".

Rambourg said the firm had a strong four-year pipeline of hotel openings at a time when the market as a whole was not growing sharply.

(Reporting by Simon Jessop and Nishant Kumar; Editing by Michael Urquhart)