LONDON— Accor is reportedly seeking a strategic partner to develop its investment plans in Greece. The group, which currently has five hotels in the country, is looking to extend its portfolio by a further 10 to 15 hotels by 2006, and plans to do so by setting up two subsidiaries, a holding company and an investment company. Meanwhile, Accor, through its Accor Casinos arm, is to make a friendly bid in January for the remaining shares in Compagnie Européenne de Casinos, which operates 22 casinos across France and Belgium. Accor Casinos, with 16 casnos in France, Belgium and Malta, began the acquisition process earlier this month with the aim of creating France’s leading casino group. The euro 258 million (US$226.4 million) bid is being backed by U.S.-based investment group Colony Capital, which will acquire 50% of Accor Casinos in early 2002 for a capital gain to Accor of euro 75 million (US$65.8 million). SOURCE: HVS International
