Accor to invest in four freehold and leased hotels
The London hotel, which will be located in Marsh Street, Canary Wharf, will be owned and managed by Accor as a Novotel. It will have 310 bedrooms and will open by mid-2015.
Meanwhile, Accor's expansion in Edinburgh will include a freehold site on St Andrews Square, which will operated by the company as a 103-bedroom Ibis Styles by the end of 2013. The other two hotels in Edinburgh are leased properties and are located at Edinburgh Park and SoCo Edinburgh, a new development in the heart of the old town. They will also be operated under the Ibis brand and will open in 2013 and 2014 respectively.
Thomas Dubaere, managing director, Accor UK & Ireland, said: "Our investment in these four new hotels, two of which we will own and manage, is another step in our strategy to build on our leadership position and further grow Accor's presence in the UK. It is also part of our flexible active asset management plan. While we are focused on reducing our portfolio's capital intensity, we have the financial strength to invest in owned assets, for key locations and flagship hotels for our brands."
Accor currently operates 188 hotels in the UK and is on target to operate 300 by 2015.
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By Janet Harmer
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