Accor sells hotels to estate company
French hotel chain Accor has signed an agreement to sell 76 of its properties to estate company Fonciere des Murs for €583m.
The hotels, under the Novotel, Mercure and Ibis brands and with 8,300 rooms between them, will continue to be managed by Accor.
The deal involves 59 hotels and five thalassotherapy institutes in France and 12 hotels in Belgium.
Accor has also announced a sale and manage back agreement on six Sofitel hotels in the United States.
The properties have been bought for $370m by a joint venture comprised of GEM Realty Capital, Whitehall Street Global Real Estate Limited Partnership 2005 and Accor.
The six hotels, totaling 1,931 rooms, are in Chicago, Los Angeles, Miami, Minneapolis,
San Francisco Bay and Washington D.C.
Accor will remain a 25% shareholder in the joint venture and will continue to manage the
hotels under the Sofitel brand on a 25 year contract.
Avis Europe reports pre-tax profit
Car rental company Avis Europe announced a total profit before tax of €29.8m for 2005 compared with €20m loss in 2004.
The company said its underlying pre-tax profit, excluding exceptional items was €37.2m compared with €52.1m the previous year.
Murray Hennessy, Group ceo, said: "The strategy to return the Group to profitable growth is on track.
"We delivered results ahead of expectations in a difficult trading environment, benefiting from a good summer performance, stronger trading in December, improved utilisation and early progress with our margin improvement initiatives.
"The ongoing re-structuring of our operations will make the Group more efficient and effective."
Global GDSs announce back up deal
Two of the world's largest GDSs, Sabre Holdings and Amadeus have signed a mutual back-up deal to enable travel agency customers to complete bookings if an airline stopped displaying its inventory with either GDS.
A statement by Amadeus said: "The agreement is designed to ensure continued broad and seamless travel agency access to airline inventory and avoid disruptions that might otherwise develop."
New corporate booking tool for UK budget chain
Premier Travel Inn, the UK largest hotel chain, has developed a new corporate booking tool with hotel booking agency BSI.
The online tool enables BSI clients to book directly to any of the chain's 465 properties.
AEA appoints new communications chief
The Association if European Airlines has appointed Francoise Humbert as its new general manager communications.
Ms Humbert will be responsible for implementing a communications strategy aimed at highlighting the importance of European airlines to the regional economy.
She joins AEA from Cefic, the European chemical industry body and has previously worked with the airport body ACI Europe.
Saunders joins Star Alliance
Philip Saunders has been appointed the new vp sales, marketing and loyalty for Star Alliance.
Mr Saunders, 38, will be responsible for all marketing and sales for the Alliance.
He joins from SN Brussels Airlines where he was executive vp commercial.