Accor announces hotel expansion plan in Middle East | reuters.com
French hospitality group Accor (ACCP.PA) said on Sunday it plans to more than triple the number of its hotels in the Middle East, with a focus on the budget and mid-income sectors. This month Accor posted a 9.6 percent drop in first-quarter sales and announced deeper cuts to its renovation budget, as worsening business conditions hurt demand for its top-end and mid-range hotels. But the group, which operates Sofitel, Novotel and Ibis, is looking to increase its hotels in the Middle East to 24 by 2011 and 65 by 2013 from 19 at present, Philippe Baretaud, director of development for the Middle East told Reuters on the sidelines of at a property conference in the United Arab Emirates.
