Hospitality Industry News
1Accor, the world?s leading hotel operator in the economy and budget segment with over 1,700 hotels is celebrating today its 1000th ibis hotel around the world. Two years after starting reviewing economy hotel codes in depth and modernizing the ibis, ibis Styles and ibis budget brands, the Group
Hospitality Industry News
Brookfield Asset Management fund has put five ex-Thakral hotels and associated properties valued at over $600 million on the market, including the prized Sofitel Brisbane. The portfolio comprises more than 1650 rooms and could shake up the domestic hotel market by bring new offshore entrants into the arena. The
Hospitality Industry News
?Work hard, play hard? hotels for the new ?bleisure? traveller. Accor has unveiled new positioning for its upscale Pullman brand as the network undergoes accelerated expansion. With a new logo, an active commitment to design and art, and improved technology, Pullman?s new attitude is summarised by the term ?bleisure?
Hospitality Industry News
Midscale hotels have spent the past several years in an awkward spot between trailblazing up-and-coming economy hotels on one side, and vigorous upscale hotels luring larger customer bases on the other. So this is an opportunity for Mercure to reassert its one-of-a-kind position as a
Hospitality Industry News
PARIS (Reuters) – Accor Chairman and Chief Executive Denis Hennequin, beset by skepticism over his ability to turn around Europe’s largest hotels group, has decided to resign and is likely to be replaced by a duo, a source close to the board said. The French company is expected to name
Hospitality Industry News
1Increased gross revenue and strong growth in management and franchise fees First-quarter 2013 revenue stable Click 1 to read more.
Hospitality Industry News
?510-530 million FY 2012 EBIT target confirmed * Solid third-quarter business levels: revenue up 1.0% as reported and 1.3% like-forlike, despite unfavorable calendar effects in several key European markets. * Nine-month revenue up 0.3% as reported and 2.8% like-for-like. * Management and franchise
Hospitality Industry News
The hotel will benefit from a ?47m renovation plan in 2013/2014 As part of its asset management and restructuring strategy, Accor announces the refinancing of the Pullman Paris Tour Eiffel through a management contract. The Group, which took over the hotel in early 2009 under a fixed lease agreement,
Hospitality Industry News
Accor today announces the completion of the sale of its Motel 6 / Studio 6 hotels in North America to an affiliate of Blackstone Real Estate Partners VII, for an amount of US 1.9 billion dollars1. This transaction allows Accor to reduce its adjusted net debt by c. ?780m. Following
Hospitality Industry News
Group has ambitious plans to reach 250 hotels in the country by 2016. Accor partners are committed to invest $1.5 billion. Accor, the world leader hotel operator and market leader in Brazil, announces a record secured pipeline of 90 contracts to be delivered by 2016. The Group network in
Hospitality Industry News
With a current network of 17,000 rooms, the Group will open 5,000 new rooms During the Africa Hotel Investment Forum, held in Nairobi, Accor will reaffirm its ambitious expansion plan in Africa, with nearly 5,000 new rooms/ 30 hotels to be opened by 2016. Since the opening
Hospitality Industry News
Accor issued today with success a new tranche of ?100 million of its original ?600 million issue maturing June 2017. This new tranche has a 2.406% yield. This additional bond issue enables Accor to both lengthen the average maturity of its debt and optimize its average cost of funding.