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Accor doubles Singapore portfolio with franchise deal
In a single transaction French hotel giant Accor has doubled its portfolio in Singapore.
It inked a deal with Global Premium Hotels Limited to add 15 new hotels.
Thirteen of the GPH hotels operate under the Fragrance brand while two are Parc Sovereign Hotels.
All properties will be refurbished and rebranded as one Mercure hotel, one Ibis Styles and thirteen as Ibis Budget hotels.
"This deal is a great moment for our group as we are able to increase our Singapore presence significantly overnight," said Michael Issenberg, Accor Asia Pacific CEO.
"Accor’s strong presence in and understanding of the Singapore market will be complemented by these additional hotels."
It takes Accor’s Singapore portfolio to 30 hotels comprising 7,625 rooms.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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