Following an international tender managed by HVS International on behalf of the Principality of Monaco, Accor and Monaco-based Groupe Michel Pastor…
Following an international tender managed by HVS International on behalf of the Principality of Monaco, Accor and Monaco-based Groupe Michel Pastor have been selected from among six candidates to build a hotel project on the former site of Radio Monte-Carlo in the heart of Monte-Carlo, 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. HVS International advised the Monaco Principality in its project selection and in the lease terms.
The project`s architecture will be designed by a consortium comprising Wilmotte & Associes, Guy Autran and Michel Chiappori.
The project is Accor`s first in the Principality of Monaco and the first internationally branded three-star hotel in the Principality.
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.
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