TEDA and the Accor Group have inked a strategic cooperation agreement at TEDA Investment Service Center recently.

Headquartered in France, the Accor Group, a global leader in hotel management, boasts a wide range of brands from luxury to economy, such as SOFITEL, PULLMAN, NOVOTEL, MERCURE, IBIS, etc.

In 2003, Accor hit China's market and set up Tianjin Accor Hotel Management Company in TEDA, which is also home to the first IBIS in China. Thanks to years of close cooperation with TEDA, Tianjin Accor Hotel Management Company has established 19 subsidiaries in China for hotel operation and management. The registered capital has swelled from 605,000 dollars in initial stage to 30.605 million dollars. Business turnover and profit also grow by leaps and bounds.

According to the agreement, the Accor Group will scale up its investment in Tianjin Accor and launch more hotels in China in years to come.