Accor took over management of the hotel following completion of the hotel�s purchase by Tourism Asset Holdings Limited (TAHL), Australia�s leading hotel owning company. It increases TAHL�s portfolio to 29 hotels in Australia and New Zealand, all of which are managed by Accor Asia Pacific.

The Melbourne Sheraton will undergo a major refurbishment and repositioning programme, which will be completed by early 1999. The refurbishment will include upgrading of all rooms, public areas and back-of-house facilities.

The 166 room hotel enjoys one of Melbourne�s premier locations in Spring Street, opposite the Botanical Gardens. It is within easy walking distance of the city�s main business and retail areas, as well as the Melbourne Cricket Ground and the National Tennis Centre.

The hotel attracts strong domestic business and leisure travel, and with the support of Accor�s worldwide sales, marketing and reservations network, it is anticipated that the Melbourne Sheraton will also grow its inbound business.

The Melbourne Sheraton was the first hotel in Australia to open as a Sheraton, some 30 years ago. In recent years it has been managed by Vista Hotels as the Sheraton Vista Hotel.

The addition of the hotel increases Accor�s presence in Melbourne to seven hotels. The other hotels are: Hotel Sofitel Melbourne, Novotel Melbourne on Collins, Novotel Bayside, Novotel Glen Waverley (which opened last week), Grand Mercure Melbourne and Hotel Ibis Melbourne. It provides Accor Asia Pacific with the most comprehensive coverage of international-standard hotels in the city, from 5-star to 3-star.

Accor Asia Pacific is the largest hotel management company in Australia, operating 57 hotels. The company is part of the global Accor group, which comprises over 2,600 hotels in 140 countries.