Jun 15, 2012
Accor has opened its first Mercure property in Russia: the Mercure Arbat Moscow, which is located on The Arbat in Moscow, a pedestrianised street dating from the 15th century that is said to be the oldest surviving street in the capital. The 109-room hotel is owned by ARD and it is Accor’s 12th hotel is Russia. The group plans to expand the brand in Russia by opening two more Mercure properties in the country by the end of the year. Accor also announced the successful launch of a bond offering this week, enabling the group to lengthen the average maturity of its debt and optimise its average cost of funding. The five-year bond was issued for an amount of €600 million with an annual coupon of 2.875%.