Accor selling 158 hotels
19 October 2009
The French hotel group Accor will be selling 158 hotels, a total of 12,300 rooms, which will bring in about EUR 272 million.
The group will, however, continue managing the hotel structures and, according to an official statement, will maintain "control over prices and innovation, which have led to their success."
The sale of the hotels is accompanied by a 12-year commercial rent. The operation will contribute to the reduction of the indebtedness of the Accor group.