It owns and manages the Parc Sovereign Hotel Brand and Fragrance Hotel Brand. The 15 hotels will undergo asset enhancement initiatives to be in line with Accor global standards and will be rebranded to become one Mercure, one ibis Styles and thirteen ibis Budget hotels. The deal will greatly expand Accor's footprint across the city and give travellers to Singapore a greater selection of international-standard, quality accommodation with the added assurance of globally renowned brands. "We are delighted to be entrusted by Global Premium Hotels Limited with these hotels and look forward to offering visitors and locals a winning combination of great price, location and service," said Michael Issenberg, Chairman & CEO Accor Asia Pacific. "Accor's strong presence in and understanding of the Singapore market will be complemented by these additional hotels and with our proven expertise in mid-tier and economy hotel operations, we hope to bring added value to the owners.