Paris-based hotel group Accor sees business in Singapore booming and is considering making the city-state its Asian hub, regional chairman David Baffsky said.
"We are looking to expand in Singapore," Baffsky told the Straits Times. "We want to bring our five-star Sofitel brand here."Accor, one of the world's largest hotel groups with more than 4,000 hotels spread across 140 countries, believes Singapore's position as an airline hub bodes well for further expansion of the tourist market.
"As travel in Asia increases, business here and in the region will go up," Baffsky said. "Even with the new generation of long-haul aircraft, I expect there will be a stopover in Singapore."
He also cited the country's open-skies agreement with China as an indication of Singapore's forward-looking mentality.
With this in mind, Accor is considering making Singapore its new Asia-Pacific headquarters for developing new business. Hong Kong is the other possibility.
"We are talking to the authorities in both places and a decision will be taken in the new year," he said.