Accor-Pannonia divests subdiary
Monday, May 23, 2005, 11:05
Accor-Pannonia Hotels Rt, the Hungarian subsidiary of French-owned international hotel and travel conglomerate Accor Group, sold a subsidiary established 35 years ago to the latter?s management. The offer to buy Pannonia Tourist Service, which focuses on inbound tourism and conference projects tallied with Accor-Pannonia?s desire to divest non-core activities. The now independent travel agency will be headed by Judit Juhász, who has been with the company for 12 years. Pannonia Tourist which had Ft 500 million revenue last year mostly from tourists from Finland, France, Germany and Italy, will continue to cooperate with Accor-Pannonia as a strategic partner.