Accor strikes deal to boost Brazil hotel business

PARIS, April 9 (Reuters) - French hotels and business services group Accor (ACCP.PA: Quote, Profile, Research) unveiled on Wednesday plans to boost its hotels operation in Brazil, including investment of around 200 million euros ($314.7 million).

Accor said it had signed a partnership agreement with Walter Torre, one of Brazil's leading real estate investors, to develop a network of 20 Formule 1* and Ibis hotels in Brazil by 2010.

It said the project represented nearly 5,000 rooms and total investment of about 200 million euros.

In February, Accor reported a 76 percent surge in its 2007 net profit and announced plans to pay a bonus dividend and buy back shares. (Reporting by Sudip Kar-Gupta; Editing by David Hulmes)