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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.

Other News

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Phuket’s Message To The World Welcome Back Home

Category: Tourism, Posted:24 Jun 2021 | 12:06 pm Tourism eyes around the world are focused on a resort island in Thailand next week for the reopening of international, vaccinated travel to the Phuket Sandbox. A key emerging storyline from the island’s frenzied runaway to 1st July has been the remarkable cross sector partnerships that has become a true catalyst of change. Phuket’s private […]
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Booze Is Back In Phuket Restaurants

Category: Tourism, Posted:23 Jun 2021 | 08:21 am Good news in the lead up to the Sandbox, the alcohol ban in island restaurants has been lifted. Alcohol can now be served in eateries until 23:00 daily. Pubs and entertainment venues are still closed for the moment. Special events up to 200 people are allowed. Expect more reforms on restrictions in the days leading […]
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More Than One Sandbox? WTF

Category: Tourism, Posted:22 Jun 2021 | 06:00 am Yes, nine days to go to the Phuket Sandbox and things are slowly becoming more clear. Baby steps and the island is getting ready despite waiting for the final set of rules and regulations. For now, it’s coming and we simply can’t wait. Meanwhile in Phuket: Catch the latest Thai Road Trip episode from Delivering […]