Aéroports de Paris and Accor sign building leases for three hotels at Paris-Orly Airport (FR)

Aéroports de Paris and Accor sign building leases for three hotels at Paris-Orly Airport Aéroports de Paris, as the owner and developer of the land, and Accor Group, through its real estate asset management division, HotelInvest, have signed building leases at Paris-Orly Airport, in the Cœur d'Orly district. The three leases cover the extension of the existing Ibis hotel (to be completed at 2016) and the construction of two new hotels: an Ibis budget hotel and a Novotel (due to open in 2016 and 2017, respectively).
According to François Cangardel, Aéroports de Paris Real Estate Director: "Paris-Orly Airport has become a very important business hub in the heart of southern Paris. The significant modernization work currently under way will change the appearance of the airport, making it more welcoming, especially through the construction of a junction building between the south and west terminal. At the same time, construction work has started on the first office building in Cœur d'Orly, an eco-friendly business district, one of the elements of which is the development of a 35,000 m² hotel complex that will provide space for the development of Accor Group hotels. Besides the fact that we are adding the value to our vast land reserves, we are also significantly increasing Paris-Orly's accommodation capacity, thereby meeting the growing demand from passengers.”
John Ozinga, Chief Operating Officer of HotelInvest Accor added: "This operation is fully in line with the HotelInvest strategy, aimed at strengthening our position as Europe's top hotel investor. It allows us to invest in the economy and midscale segments in hotels meeting with high environmental quality standards (HQE). They are located in a key area that is generating excellent operating performances and promising to become one of the Grand Paris' flagship urban projects."
Source: Aeroports de Paris