|14 December 1998: The world's largest hotel operating company,
Accor, is planning to introduce its pioneering budget hotel concept - Formule
1 (F1) - into Japan.
This revolutionary concept celebrates its 10th anniversary this year and has grown to a network of some 500 F1 hotels around the world, including hotels in Belgium, France, Germany, the Netherlands, the United Kingdom, South Africa and Australia.
The proposed expansion to Japan was announced today by joint-venture parties, Accor, and Kishu Railway Co (headquartered in Tokyo), a successful hotel company for whom Accor already manages a number of hotel projects in Australia. Kishu also owns and operates many resort hotels in Japan. It is planned that construction of a prototype Formule 1 will commence in the Greater Tokyo area in 1999 and feasibility studies were at an advanced stage.
The joint-venture parties also reached agreement with Dennys Japan, the renowned restaurant group, to jointly identify sites to build Formule 1 hotels alongside or in close proximity to a number of Dennys restaurants.
The Formule 1 concept is based on providing a highly affordable and standardised product in key commercial areas, close to major transport arteries. In Formule 1 hotels all rooms are identical (offering a queen size bed and overhead bunk bed plus ensuite bathroom) and a uniform tariff.
In announcing the joint venture, Accor Asia Pacific Chairman, Mr. David Baffsky, said that Formule 1 had the potential of making a major impact in Japan.
"Formule 1 hotels have set the standard for hotels in the economy category," said Mr. Baffsky. "For quality accommodation in convenient locations at reasonable rates, Formule 1 is the perfect answer. This is why Formule 1 has done so well in Europe and elsewhere in the world, and we are confident the hotel chain can have a similar impact in Japan.
"Their great asset is their consistency. One of the major problems in the economy-hotel sector is the lack of consistency and varying standards. In contrast, Formule 1 hotels guarantee absolute consistency and high quality product.
"We have worked with Kishu on hotel projects in Australia over many
years and are very pleased to extend this partnership with Kishu in Japan.
We are also very pleased to be working closely with Dennys, as we share
a common philosophy of consistently offering the consumer quality product
in convenient locations at reasonable rates."
|Also See:||Accor Completes $1.1 Billion Sale Leaseback Program for Motel 6 / Oct 1998|
|Accor Expands Sofitel Network to India / Nov 1998|