Accor's stake of the Century
15 May 2001
Accor has bought a minority stake in Hong Kong hotel company Century International Hotels.
The financial details of the deal were not disclosed, but the companies have agreed that the 516-bedroom, four-star Century Hong Kong hotel will be changed to a joint-branded Novotel Century Hong Kong from November.
"We will then talk with the owners of our other hotels in the region about the possibility of re-flagging under one of the Accor brands," said Century's president and chief executive Brian Deeson.
Last week Accor annouced a 10.5% increase in sales during the first three months of the year. The total hotel business, which comprises more than 3,500 hotels in 90 countires, increased turnover by 14% to €1.22b (£760m).
