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Accor Announces a Major Real Estate Transaction in the Budget Segment in France, With the Sale of 158 hotelF1 Properties for EUR272 Million.

Publication: PR Newswire
Publication Date: 22-SEP-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
PARIS, September 22 /PRNewswire-FirstCall/ -- In line with its ongoing asset-right strategy, Accor today announced a major real estate transaction in the Budget segment in France, with the sale of 158 hotelF1 properties, representing a total of 12,300 rooms.

Accor pioneered the low-cost hotel concept in France, opening the first Formule 1 hotel in 1984 and introducing particularly innovative construction and management techniques. Formule 1, renamed hotelF1 in 2007, is the...

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