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CitizenM, Accor announce major developments

Two industry movers announced important developments this week with CitizenM finding real estate to develop in Paris and Accor winning a contract to operate the Pullman Sydney Airport.

The Dutch hotel group, CitizenM, recently acquired the Tour Gamma D real estate complex. The 10,500 sqm complex is located at 193/197, rue de Bercy, 58/62, quai de la Râpée and 2/16, rue Van Gogh in the 12th arrondissement of Paris France.

CitizenM will convert the building into a hotel, directly connected to the Gare de Lyon by a footbridge and immediately adjacent to public transport. Opening is expected earliest in 2016.

The A$100 million (US$86 million), 229-room Pullman Sydney Airport will be part of a new mixed-use precinct to be developed in Mascot, near Sydney Airport, by local developer Goodman. Construction has just commenced for an expected May 2016 opening of the first internationally branded 5-star hotel serving the international airport precinct.

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