ACCOR Losses Spur Asset Disposal
Category: Hotels, Posted:02 Sep 2012 | 08:43 am
Global hotel chain ACCOR which registered a net loss of over half a billion Euros last week, is predicting a return to the black.
Despite a write down of losses attributed to the sale of Motel 6 chain in the United States, the group is looking to consolidate its balance sheet.
One of ACCOR's primary strategies is to move reduce assets and focus on franchising and management.
A stated goal is to shed owned hotels to just 20% of the groups portfolio over the next four years.
There remains speculation over the future of the Sofitel brand given a global push into the lower tier with ibis and Formule 1.
Destination Ink Radisson For Patong HotelCategory: Hotels, Posted:12 Mar 2023 | 23:16 pm Phuket’s hotel brand conversion trend is continuing, with the latest move having Radisson sign a deal for a 390-room hotel in Patong. Owned by the Destination Group, the property will be branded as a Radisson. This is the fourth recent conversion by Destination with one more Radisson and two Holiday Inns by IHG. Expect more […]