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ACCOR

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Real-time Euronext Paris  -  11:35 2022-06-30 am EDT
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Accor to launch the first ibis budget hotel in Cambodia; THE 322-ROOM IBIS BUDGET PHNOM PENH RIVERSIDE WILL OPEN IN Q3 2022

02/28/2022 | 08:32am EDT

Accor, a world leading hospitality group, is preparing to open its first ibis budget hotel in Cambodia with the signing of ibis budget Phnom Penh Riverside. The property will debut in July 2022, offering the brands comfortable and contemporary design with very competitive rates.

The 322-key hotel will incorporate the signature ibis budget concept boasting contemporary design across its rooms and public areas. A grab-and-go breakfast outlet and four meeting rooms will allow for energetic interactions for those people always on the move. Offering convenience for both business and leisure travellers, ibis budget Phnom Penh Riverside will be strategically located in Chamkar Mon district, one of the prime business and entertainment neighbourhoods of Cambodia's capital. Within the hotel's vicinity are key attractions such as the Independence Monument, the National Museum of Cambodia, the Royal Palace, and the Central Market. Koh Pich, a new district of Phnom Penh on the Mekong and Bassac rivers, is just a short walk away.

'We are extremely delighted to be expanding our network in Cambodia with the signing of our first ibis budget address in the country. ibis budget is one of Accor's leading brands in the economy segment, with guests enjoying great value for essential comfort and modern, functional spaces. In developing the pipeline for this brand, we always seek out high-visibility locations with convenient accessibility. We believe ibis budget Phnom Penh Riverside will become a favourite amongst travellers seeking pragmatic accommodation that encourages them to remain energised,' said Garth Simmons, Chief Executive Officer, Accor, Southeast Asia, Japan and South Korea.

With an easy-going atmosphere, ibis budget is a perfect base for urban adventurers seeking smart, comfortable rooms, intuitive design, and relaxed social spaces. Sweet Bed by ibis budget allows travellers to take a break and recharge, while the hearty food and beverage offerings give guests the fuel they need for their day.

'We are pleased to be partnering with Accor to bring the first ibis budget to Cambodia. The Kingdom is now reopened to international travellers, with an increased number of arrivals. We remain confident in the long-term outlook of Cambodia's tourism industry. ibis budget Phnom Penh Riverside will offer comfortable rooms, a great location, and competitive rates. We believe that the hotel will perform well and meet the needs of guests within the economy segment. We look forward to welcoming locals and travellers from all over the world to experience our hotel,' said Mr. Weng Aow, Managing Director of Dara Hotels Group of Dara Riverside Hotel Company Limited.

Dara Hotels Group is a brand name for an initiative by Cambodian investors who, in the early 2000s, decided to join forces to develop a Cambodian hospitality group. The Group's vision is to develop quality hotels in strategic locations across the country which provides comfortable and modern stays that welcomes business and leisure travellers alike.

Accor is one of the leading international operators in Cambodia with five hotels under the Raffles, Sofitel, and ibis Styles brands in Siem Reap and Phnom Penh, and a pipeline of four committed projects across the country. ibis budget Phnom Penh Riverside will join a collection of over 635 ibis budget addresses globally across 20 countries.

ABOUT ACCOR

Accor is a world leading hospitality group consisting of more than 5,200 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry's most diverse and fully-integrated hospitality ecosystems encompassing more than 40 luxury, premium, midscale and economy hotel brands, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor's unmatched position in lifestyle hospitality - one of the fastest growing categories in the industry - is led by Ennismore, a creative hospitality company with a global portfolio of entrepreneurial and founder-built brands with purpose at their heart. Accor boasts an unrivalled portfolio of distinctive brands and approximately 260,000 team members worldwide. 68 million members benefit from the company's comprehensive loyalty program - ALL - Accor Live Limitless - a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 - Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the Group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information visit group.accor.com, or follow Accor on Twitter, Facebook, LinkedIn, and Instagram

PRESS CONTACTS

Harry Greig

Communications Director

Accor, Upper Southeast Asia

harry.greig@accor.com

Nontawan Laohakiat (Toey)

Communications Assistant Manager

Accor, Southeast Asia, Japan & South Korea

nontawan.laohakiat@accor.com

(C) 2022 Electronic News Publishing, source ENP Newswire

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Sales 2022 3 285 M 3 434 M 3 434 M
Net income 2022 121 M 127 M 127 M
Net Debt 2022 1 709 M 1 786 M 1 786 M
P/E ratio 2022 67,4x
Yield 2022 1,35%
Capitalization 6 643 M 6 945 M 6 945 M
EV / Sales 2022 2,54x
EV / Sales 2023 2,20x
Nbr of Employees 14 466
Free-Float 73,7%
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Floor Bleeker Chief Technology Officer
Iris Knobloch Vice Chairman
Qionger Jiang Independent Non-Executive Director
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