Accor and Groupe Michel Pastor

14th Feb 2003

Following an international call for bids issued in April 2002
by the Principality of Monaco, Accor and Monaco-based Groupe Michel Pastor have
been selected from among seven candidates to build a hotel project on the former site
of Radio Monte-Carlo in the center of Monaco.
A 75-year construction lease was signed last December for the project, which includes
a hotel with 232 rooms and suites and a residential hotel. Construction will begin in
2004, with the opening scheduled for 2006.
The project’s architecture will be designed by a consortium comprising Wilmotte &
Associés, Guy Autran and Michel Chiappori.
The project is Accor’s first in the Principality of Monaco.
Operated under the Novotel brand, the hotel will serve clients visiting Monaco for
business, conventions or leisure, while the residential hotel will be geared for people
staying longer. Together, the two properties will broaden the Principality’s hotel
offering, which is currently dominated by luxury hotels.
Groupe Michel Pastor is the leading real estate developer in the Principality of
Monaco, with such prestigious properties as the Europa Residence, the Houston
Palace, the Columbia Palace and the Garden House. With more than 40 years’
experience in structuring, designing and managing real estate developments, Groupe
Michel Pastor directly manages property in the Principality totalling 100,000 square
meters of apartments, 10,000 square meters of office space and 5,000 square meters
of commercial and industrial facilities.
With 150,000 associates in 140 countries, Accor is the European leader and one of the
world`s largest groups in travel, tourism and corporate services, with two major
international activities:
- hotels: 3,835 hotels (441,418 rooms) in 90 countries, casinos, travel agencies, and
- services to corporate clients and public institutions: each day, 13 million people in
32 countries use a broad range of services (food vouchers, people care and
services, incentive, loyalty programs, events) engineered and managed by Accor.


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