Accor Planning To Sell NY Novotel

NEW YORK–Accor SA plans to divest the 480-room Novotel Hotel in Times Square here.

As part of a strategy to become asset light, France-based Accor plans to sell the hotel, but retain the management contract.

Accor also owns the Sofitel Hotel in Times Square.

News of the proposed sale was first reported in The Wall Street Journal.