Accor Sells Italian Food Services Business
As part of the disposal of its non-strategic assets, and as presented during its 2006 yearly results, Accor announces the sale of its Italian food services business to Barclay's Private Equity for 135 million euros. In 2006, this business contributed 312.3 million euros to Accor's consolidated revenue.
The disposal of the non-strategic Italian food services assets is part of the strategy of refocusing on Accor's two core businesses, Services and Hotels. In line with the commitment to optimizing the Group's financial structure, proceeds from the sale will be returned to shareholders.
Accor, European leader in hotels and tourism, global leader in corporate services, operates in nearly 100 countries with 160,000 employees.