The deadly attacks in Paris earlier this month could have a lasting impact on tourism if anti-France protests that have swept the Muslim world lead wealthy Arabs to shun the city.
French hotel operator Accor announced a strategic alliance with China Lodging Group on Sunday to create a major new player in the fast-growing Chinese domestic travel and hospitality market.
Paris, France-based hospitality major Accor is aiming to exit its 40% stake in Mumbai, India-based Sofitel hotel in Bandra-Kurla Complex (BKC) and fold the Sofitel brand into itself, according to sources.
Accor, the world's larges hotel operator had appointed Sebastian Bazin as its new chairman and CEO.
Bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies.
Accor is to sell its troubled U.S. budget hotel business for $1.9 billion to private equity group Blackstone.