NEW YORK Accor, which currently has 14 hotels in Spain comprising 1,756 rooms, plans to increase its total to 124 hotels by 2005, according to Serge Hattier, Accor s vp/development in Spain. While he declined to mention the level of investment, he believed that raising the capital would not be an issue as there is currently a high level of interest in the Spanish hotel market from Spanish investors and European pension funds. Accor is currently developing the Novotel Coralia, Mojacar in the Province of Almeria. There are an additional 30 signed contracts for new projects, with 26 projects expected to be under construction by 2002. Hattier confirmed that Accor has approached the leading urban hotel chains in Spain; to date no deal has been closed. (12/1/00) SOURCE: HVS International
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