January 10, 2001 - HVS International
In an attempt to increase its representation in China, Accor has purchased a major stake in Zenith Hotels International, although the exact size or the price of the stake remains unknown.
Accor's investment could potentially mirror that of the Hai Sun Hup Group, which sold its 50% stake in Zenith three years ago for US$ 4.3 million.
Zenith currently manages nine hotels, of which eight are located in China; a further four hotels are under development. Accor, which currently has a portfolio of nine hotels in China, believes that the market has tremendous potential for growth in the tourism and hospitality sector.
According to Jochen Dobel, Accor's Deputy Chairman for Asia Pacific, Accor hopes to combine Zenith's local expertise with Accor's global and Asia experience. The deal is very much in its infancy with further alliances expected.
* * * * * * * * * * * * * * * * * * * * * * * * * * * * *
HVS in 2000: Celebrating 20 Years of Valued Hospitality Consulting Service
This release is courtesy of HVS International, a global full-service hospitality consulting company. HVS International's numerous services including market studies & valuations, development consulting, litigation support, asset management,and more. Investment advisory services are available in the UK, Africa, Europe and the Middle East.
To Visit The HVS International Web Site Click Here
To subscribe to HVS Hospitality Enews, a free weekly newsletter, please send contact details to:
enews-europe@hvsinternational.com
|
Post Release
Get Content
Email News Brief
Saved Articles
Advertising
Handheld
XML/RSS
Post News