Accor has completed the purchase of the Mirvac Group's hotel interests in Australia and New Zealand. As a result of the acquisition, Accor will add a total of 43 hotels across Australia and New Zealand.

Accor has been working with the Mirvac Group to ensure a systematic integration of the hotels into the Accor network. In the first phase of integration, Sydney Marriott Hotel will be re-branded as Pullman Sydney Hyde Park from tomorrow, 22 May, and Sebel Newcastle Beach will be re-branded to Novotel Newcastle Beach in June.

Pullman expansion in Australia

The previously Mirvac-managed Sydney Marriott Hotel will receive a $7 million refurbishment (funded by the owners, the Mirvac Wholesale Hotel Fund) to align the hotel to Pullman's 5-star standards. The major refurbishment programme will include renovating all remaining rooms as well as significant upgrades to the hotel's lobby and public areas.

While the majority of Mirvac's hotels will remain under their existing brands - Quay West Suites & Resorts, Sea Temple, Sebel Hotels, Resorts & Residences and Citigate Hotels - in the short term, a major priority for the integration will be to re-brand a number of the hotels under Accor's upscale Pullman brand - one of Asia Pacific's fastest growing 5-star brands.

With the takeover of Mirvac's hotels, Accor's network in Australia and New Zealand will grow to some 250 hotels representing 32,000 rooms. The deal particularly strengthens Accor's position in the upscale sector, building on Accor's current leadership position in the mid-scale and economy sectors.

Deal to change the face of Australian and New Zealand hotel industry

"The settlement of this deal will fundamentally re-shape the hotel industry in Australia and New Zealand," said Michael Issenberg, Chief Operating Officer for Accor Asia Pacific.

"We have seen many of the original overseas players in the hotel sector retreat from this region in recent years while Accor has aggressively grown its network through management and franchise contracts and strategic acquisition deals such as the purchase of Mirvac's hotels.

"We will be able to add significantly to the competitiveness of the Mirvac hotels once they are fully integrated into the Accor network. The benefits will come from access to our global distribution platform, strong branding, our pre-eminent position in the rapidly expanding Asian markets, and the support of the region's most experienced and professional workforce.

"We will particularly focus on expanding our Pullman brand. The brand has achieved great traction since launching in 2007 and is now also a major player in Asia Pacific, Europe and South America. In this region, Pullman is currently represented in Sydney, Cairns and Auckland, and with the addition of the former Marriott in Sydney, and with the planned re-branding of a number of existing Mirvac hotels to Pullman, it will become a real force in the Pacific over the next two years. By 2015 it is expected that there will be over 150 Pullman hotels globally, with some 60 of them in key cities and resort areas across Asia Pacific."

About Accor

Accor, the world's leading hotel operator and market leader in Europe, is present in 92 countries with more than 4,400 hotels and 530,000 rooms. Accor's broad portfolio of hotel brands - Sofitel, Pullman, MGallery, Novotel, Suite Novotel, Mercure, Adagio, ibis, all seasons/ibis Styles, Etap Hotel/Formule 1/ibis budget, hotelF1 and Motel 6 - provide an extensive offer from luxury to budget. With more than 180,000 employees* in Accor brand hotels worldwide, the Group offers to its clients and partners nearly 45 years of know-how and expertise.

ENDS

For more information, please contact:

Peter Hook                                         
General Manager Communications           
Pacific, Accor Pacific                              

peter.hook@accor.com                          

+61 2 92809860                               

+61 407 462213  

Evan Lewis   
Vice President Communications
Accor Asia Pacific
evan.Lewis@accor.com
+65 6408 8840