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SCMP Reporter

Accor, the giant French travel, hotels and tourism group, has announced its biggest move into the mainland, with a letter of intent that will give it management control of Beijing's 416-room Peace Hotel.

 Accor, which already controls five mainland hotels, is undergoing an expansion of all its businesses.

 The latest mainland move follows the formation earlier this month of a strategic partnership between Accor and the government-controlled Beijing Tourism Group.

 The company said yesterday it was expecting five more mainland management contracts to follow - including a further joint venture with the Beijing Tourism Group - in the cities of Beijing, Jinan, Wuhan, Zhengzhou and in Pudong in Shanghai.

 Analysts said Accor's acceleration into the mainland was surprising given the continuing consumer sentiment downturn there.

 However, they said tourism figures released this month showed receipts from foreign tourists in the first half of the year were up 15.9 per cent, with visits up 14.95 per cent compared with the same period last year.

 'It looks like Accor is buying into the dip in sentiment in the domestic economy, while capitalising on the ongoing interest from foreign visitors,' said one analyst.

 Other parts of the Accor group have also been expanding their presence.

 Its subsidiary Europcar, which it shares with the German motor group Volkswagen, last month became the first international car rental company to operate in the mainland.

 Europcar has formed a joint venture with Shi Ji Tong Car Rental, the mainland's largest market player.

 Shi Ji Tong will be able to use the Europcar brand name and further develop the mainland's car-rental market, where last year it sold more than two million rental days.

 Accor, the largest hotel operator in the Asia-Pacific region, yesterday said it also hoped to expand its travel agency and tour operating services through co-operation with the Beijing Tourism Group.

 These operations include Carlson-Wagonlit Travel and Accor Corporate Services.

 Accor said it expected to assume management control of the Peace Hotel early next year. It will re-brand it the Novotel Peace Hotel.

 The group already runs four other Novotel hotels, in Shanghai, Huangzhou, Hefei and Zhengzhou, as well as the 370-room Sofitel hotel in Shanghai.

HOTELS 



Accor to control Peace Hotel