The 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 [...]

China top resort destination, Yalong Bay in Sanya on Hainan Island, will soon be the home of the first Grand Mercure resort in the country when the Grand Mercure Yalong Bay, Sanya opens late-2007.
Part of a lush 133-acre site directly across from Yalong Bay Beach, the resort is adjacent to the National Mangrove Nature Reserve [...]