NEW YORK Accor, the world s fourth largest hotel group, has announced its intention to expand in Norway. According to Patrick Beloire, head of Accor s Scandinavian operations, there is much scope to develop the group s budget hotel brands in all major Norwegian towns and cities.
There are plans to roll out the Ibis brand, by building new hotels and acquiring existing properties. Accor is targeting key locations such as Tromso, Trondheim, Bergen, Stavanger, Lillehammer and Oslo. Accor also intends to develop a four-star Sofitel hotel in Oslo.
This announcement by Accor may be seen as a threat to Choice Hotels Scandinavia, which currently dominates Norway s budget hotel market.
Accor has also revealed plans to expand its presence in Egypt with the construction of four hotels in Cairo, two hotels in Alexandra, four hotels in Hurghada and two hotels in Sharm El-Sheikh. A tourism investment holding company, with US $150 million in capital, is to be established to help achieve this targeted growth. (9/20/00)
SOURCE: HVS International