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Accor Says Asia-Pacific Expansion On Track

(October 2008) posted on Thu Oct 30, 2008 EDT


Accor remains committed to open around 100 hotels in the Asia-Pacific region over the next 24-30 months, Reuters India reported. The French hotel group told the news service it will go ahead with those plans, despite expectations of a tourism slowdown. "Nobody builds hotels for next year," Accor's Asia Pacific chairman Michael Issenberg told Reuters. "They build for the next 20, 30, 40 years. I don't see a lot of projects being cancelled, although there will be delays." Accor, which now operates about 370 hotels in the region, said the financial crisis will mainly disrupt projects scheduled for completion after 2010 due to problems obtaining financing. Issenberg said the majority of projects will be under the budget Ibis brand, and that Accor is concentrating on expanding in China and India.

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