Accor to open new Pullman hotel in Dubai

Photo: AETOSWire

Twenty14 Holdings, a Abu Dhabi-based hospitality company has partnered with hotel giant Accor, to open a new Pullman hotel at Dubai's Business Bay.

“We are pleased to partner with Accor and be part of their strong footprint and network in the region,” said Adeeb Ahamed, Managing Director of Twenty14 Holdings. “Pullman is aligned with our expectations and vision as an asset owning company, and with Accor’s loyalty program and management expertise, we are confident that guests at our property will get to experience the best of global hospitality.”

Located in Business Bay, the hotel offers stunning views of the Dubai Canal, the Dubai Skyline and the iconic Burj Khalifa. Business Bay is near Dubai International Financial Center (DIFC), as well as the Dubai International Convention & Exhibition centre.

Accor and BNP Paribas become strategic partners to launch a co-branded payment card in Europe

Accor, a world leader in hospitality, and BNP Paribas, the leading bank in the eurozone and a key international banking player, announce that they have concluded a pan-European partnership to launch a unique co-branded payment card. Members of the ALL-Accor Live Limitless lifestyle loyalty program who subscribe to the card will be able to use it for all their day-to-day purchases. Linking up with one of the sector’s best loyalty programs, card users will earn points as soon as they start spending, upgrade to a higher status more quickly, and enjoy special and unforgettable experiences both in the Group’s hotels and across the entire Accor ecosystem.

With over 50 hotels in the pipeline, Accor intensifies the development of its lifestyle brands

TRIBE will arrive in Paris this fall, followed by Amsterdam, Warsaw and other launches planned for key gateway cities such as London, Berlin, Brussels, Lisbon, and Vienna in Europe to start...

Accor is stepping up its ambition in the lifestyle sector with TRIBE, a rapidly expanding midscale brand, which is exceeding initial expectations and planning to open more than 50 hotels globally... In Europe, in addition to Paris, Amsterdam or Warsaw where hotels have already been signed, projects in iconic locations such as Berlin, London Brussels, Lisbon and Vienna are currently being finalized. Over the next five years, the brand is planning to open a total of 150 hotels worldwide aimed at a new generation of travelers in search of refined yet affordable experiences.

 

“Accor is a global leader in the lifestyle segment, thanks to its 11 disruptive brands, including TRIBE and its 50 hotels in the pipeline. The brand is going from strength to strength and is continuing its international expansion with the development of numerous projects. In line with the Group’s growth targets, TRIBE has established itself as the new standard in the world of lifestyle hospitality” said Gaurav Bhushan, Chief Development Officer, Accor.

 

More credit for Accor

Accor has announced that it has signed an agreement with a consortium of 5 banks for a new €560m Revolving Credit Facility (RCF). It complements the undrawn €1.2bn RCF signed in July 2018. It further reinforces Accor’s liquidity position which today exceeds €4.0bn, i.e. more than 40 months under the current market conditions:

€2.5bn available cash at-hand as of end-March 2020
€1.2bn RCF signed in July 2018 - undrawn
€0.56bn as per the new RCF - undrawn

The new fully committed facility has a 12 months tenor, with two six-months extension options in the hands of Accor and has neither covenant nor restriction. It has been underwritten by the following 5 banks: BNP Paribas, Crédit Agricole CIB, Crédit Industriel et Commercial, Natixis and Société Générale. This reflects the renewed trust of Accor’s core banks its business profile and strong balance sheet.