The French hotelier currently has 103 hotels in Asia and over 100 development projects in the pipeline regionally. While most of its new hotels are in China, Singapore was selected as its new headquarters over Hong Kong because of Accor’s future plans to expand in India, Thailand and Vietnam.
The hotel group is also building its largest ever project under a joint venture with LaSalle Investment Management, a 538 oom Ibis hotel in SIN, costing $145m, set to open in early 2009. Accor has also said it believes there is an increase in economical visitors coming to Singapore in low cost carriers without business or first class bookings.
David Baffsky, chairman Accor Asia Pacific said Singapore was one of the region’s most important tourism and financial hubs and was “the ideal location to drive Accor’s growth and development plans in the region.”
Accor Asia-Pacific md Michael Issenberg will head the office and the group will also move its key Asia-Pacific operational, human resources, sales, marketing and finance functions to Singapore.
It has been reported that the company’s target is for Asia to yield 10% of global revenue in three to four years.
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