HomeNewsH World Group sells its shares in Accor, both companies to continue partnership in developing their hotel operations in China

H World Group sells its shares in Accor, both companies to continue partnership in developing their hotel operations in China

by admin
H World Group sells its shares in Accor, both companies to continue partnership in developing their hotel operations in China

HONG KONG, Mar 3, 2023 – (ACN Newswire) – H World Group recently announced that it completed the disposal of its 3.7% stake in Accor. The proceeds of this transaction will be redeployed for the development of the Group’s core business. After this transaction, H World Group no longer owns any stake in Accor, but both sides will continue to develop their successful partnership.

As world-renowned hotel groups, H World Group and Accor established strategic partnership with cross shareholding in 2016. Under the agreement, H World Group has the master franchisee rights for Mercure, Ibis and Ibis Styles, as well as co-development rights for Grand Mercure and Novotel in the Greater China Region. By the end of 2022, H World Group operates 468 hotels in China under this agreement, with 143 properties in the pipeline scheduled to open over the next few years. Accor remains a key partner of H World Group in China as both sides push forth their efforts to expand and innovate in the hospitality industry.

H World Group is a key player in the global hotel industry, operating multiple hotel and apartment brands with coverage from luxury to economy markets. H World’s brands include Hi Inn, HanTing Hotel, JI Hotel, Starway Hotel, Orange Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Joya Hotel, Blossom House, Ni Hao Hotel, CitiGO Hotel, Steigenberger Hotels & Resorts, MAXX, Jaz in the City, IntercityHotel, Zleep Hotels, Steigenberger Icon and Song Hotels.


Topic: Press release summary

Sectors: Hospitality

http://www.acnnewswire.com

From the Asia Corporate News Network

Copyright © 2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Source : ACN Newswire

You may also like

H World Group sells its shares in Accor, both companies to continue partnership in developing their hotel operations in Chinahttps://deguisements-costumes.com  https://www.lejardin-adlibitum.fr/  https://www.les-livres.com  https://www.intellinews.biz  https://www.leparadissurterre.com  
The SEC's football scheduling model for 2024 is settled. What does that mean for OU? * 0207VP86MKH King of Pop garçons Déguisement MJ Superstar 8–10 Ans * Ligue 2 : Le Havre retrouve la Ligue 1, aidé de Mathieu Bodmer *  *-*adidas Predator Malice SG, Chaussures de Rugby Homme, UK * Legend of Zelda Ocarina 12 – Trou Ocarina Flûte avec poche Édition limitée Ocarina et Zelda Ocarina LIEDERBUCH Majoras * Les Français contre-attaquent en République Tchèque ! – Golf Planète *  -*-https://monmaillotdebain.com  https://pushkarvisit.com  https://dedalustats.com  https://www.diagnosismesothelioma.org  https://www.peinture-au-numero.com  https://www.mentalismsecretsrevealed.com  https://www.comptoirdubagage.biz/  https://mesothelioma-info.org  H World Group sells its shares in Accor, both companies to continue partnership in developing their hotel operations in China*H World Group sells its shares in Accor, both companies to continue partnership in developing their hotel operations in China

news7.asia H World Group sells its shares in Accor, both companies to continue partnership in developing their hotel operations in China