French-owned hotel group Accor has revealed plans to expand its network of worldwide hotels to 5,000 by 2010.
The company, which currently operates just over 4,000 hotels globally, hopes to increase market share in the mid-range sector in Europe and accelerate its growth in budget and mid-range hotels in emerging markets, such as China.
Meanwhile, the number of hotels wholly owned by the group is expected to drop to 23% by 2010 from 50% at end-2006, in favour of management contracts and franchises, to give "more flexibility," according to chief executive Gilles Pelisson.
Accor expects to have 180 hotels open or in development in the country by 2010.
In India, the group expects to have 40 budget and mid-market hotels in 2010 compared to just one last year.
Another target is to accelerate growth in the group's budget Motel 6 network in the USA.
Accor also confirmed plans to launch a budget All Seasons brand in Europe.
By Daniel Thomas
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