Hotel giant Accor said Wednesday it plans to open more than 200 hotels in the Asia-Pacific in the coming years, highlighting continued confidence in the region despite slowing growth in key markets. A total of 227 hotels should open "in the next three to four years", meaning more than 49,000 extra rooms, said Michae
Hotel giant Accor said Wednesday it plans to open more than 200 hotels in the Asia-Pacific in the coming years, highlighting continued confidence in the region despite slowing growth in key markets.
A total of 227 hotels should open "in the next three to four years", meaning more than 49,000 extra rooms, said Michael Issenberg, COO for Asia-Pacific, Accor. “It's the fastest growing part of the world"
China, the group's top market in the region with 135 hotels currently, will have the bulk of the new developments with 90 hotels, he said.
Indonesia is the group's second-fastest growing market in the region and 71 of the new hotels are planned for the sprawling. However, Issenberg downplayed fears slowing growth in China, the world's second-biggest economy, could affect Accor's plans. "In China, there's been a bit of an oversupply but that will change. The next couple of years will be challenging but in the medium term, we think we'll be OK," he said.
Accor, the sixth biggest hotel group in the world with brands including Novotel, Sofitel and Pullman, already has 73 hotels in Indonesia.
"After China, the biggest market for development is Indonesia. The hotel market in Indonesia has a very, very bright future," he said.
Gerard Guillouet, senior vice-president for Malaysia, Indonesia, and Singapore, added Accor was on track to have 100 hotels in Indonesia by 2015.