Thursday, March 09, 2006

Accor to Sell and Manageback 14 Sofitel Hotels in Europe for Eur 650 Million in 2007

Forbes / AFX - March 8, 2006

Accor said it aims to raise around 650 mln eur from the sale (and manageback) of 14 Sofitel-branded luxury hotels in Europe in 2007. The group announced the plan during a conference call with analysts following its 2005 results. Accor earlier announced plans to raise a total of 1.5 bln eur through disposals in the 2005-8 period and invest 2.7 bln eur by 2010, principally in the budget sector. Sphere: Related Content

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