French hotel group Accor completes sale of US chain
September 11th, 2007 - Category: HotelThe French hotel group Accor said Monday it had completed the sale of its US hotel chain Red Roof Inn to an investment consortium for 1.313 billion dollars (954 million euros).
Red Roof, which comprises 341 hotels, was acquired by Global Special Situations Group and the Westbridge fund.
Accor said in a statement it now planned to concentrate on its Motel 6 group, a low-cost motel chain in the United States with 928 separate establishments.
Accor general director Gilles Pelisson said the group would open more than 200 new Motel 6 units in the United States and Canada by 2010.