Accor Signs Agreement for Six Ibis Hotels in Chinese Province

Accor has signed a landmark agreement for six new Ibis hotels in Sichuan province, the largest single expansion of Accor´s economy brand in one province of China. The six hotels will be developed at a cost of $150 million.

Accor is accelerating development of its economy-hotel sector throughout Asia Pacific with the opening of two Ibis hotels in Bangkok, two in Ibis in Australia, one in New Zealand and a new Ibis for the Korean capital of Seoul.

Accor chief executive officer Gilles Pelisson, who signed agreements for three Ibis hotels in Chengdu, plus three additional hotels in nearby cities Yi Bing, Ya An and De Yang in Sichuan Province, said, “We consider China to be one of the most important countries for our group´s global development and this agreement reflects our commitment to building a network of Ibis hotels around China.”

“China is undergoing profound economic change. During my recent visit I was impressed by the potential of Sichuan province. It is a dynamic region and we believe that a network of up to 20 Ibis hotels could be developed in this area alone.”

During 2006 Accor also plans to open new Ibis hotels in Chongqing, Wuhan, Wuxi and Zhongshan with more openings in 2007 and beyond.