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FINANCIAL NEWS
France’s Accor to increase presence in MENA by 2015
25 Oct 2011
(MENAFN) Accor’s chairman and CEO, Denis Hennequin, said that by 2015, the French hotel chain would increase its branches in the Middle East and North Africa (MENA) region to 78 hotels, reported Arabian Business.
Hennequin added that the company already had 9 Ibis hotels in the region, and would add another seven; moreover, it would also raise the number of Pullman and Sofitel hotels.
He also said that Europe’s largest hotel group had to postpone the construction of four of its hotels in Syria due to the political upheaval which hit the country, on the other hand, revenue per available room (revPAR) in the firm’s 18 Egyptian hotels declined notably, however, it would be expected to recover after the country’s coming elections.
It is worth noting that Accor started to shift its focus to fast growing regions and emerging countries including the Middle East, Latin America and Asia Pacific.
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09 Jun 2024
BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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