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Hotel owner plans rapid expansion

Gilles Pélisson, chairman and chief executive of Accor, said he wants the hotel and services group he runs to nearly double the number of hotels it has worldwide to as many as 7,000, with much of the emphasis on growth in Asia.
Pélisson, whose uncle Gérard Pélisson co-founded the hotel business back in the 1960s, made his remarks while in India.
He said: "Our ambition is to be the number one international operator of hotels in India by 2015 with 90 hotels across all segments of the market from low-cost to luxury."
Accor had revenues of more than €7bn in 2009, making it the fourth largest hotel group in the world. Its brands include Novotel, Sofitel, Ibis and Formula 1.
Board members and the founders of the hotel group own around 33% of the Paris-based company, although billionaire American real estate investor Tom Barrack, through his investment company Colony Capital, owns the biggest share, with approximately 30% of the company's shares.

Picture: A Sofitel hotel in Buenos Aires, Argentina. 

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