Hotelier Accor Splits Business In Two

Law360, New York (November 27, 2013, 3:54 PM EST) -- French hotel company Accor SA will split into a hotel operating business and a hotel holding company, abandoning plans to sell properties that aren't underperforming, it said Wednesday.

Sebastien Bazin, the new CEO, said he hoped to eke better performance out of the fee-driven and yield-driven halves of the company's business model. The new plan is a shift for the company, whose old CEO Dennis Hennequin sold some European hotel assets in order to reduce the company’s exposure to the weak eurozone market.

“[Accor] deserves a...
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