RE: Accor acquisition

RNS Number:5687S
Land Securities Group Plc
08 March 2007

8 March 2007


Land Securities Group PLC ("Land Securities")

Land Securities trillium completes acquisition of ACCOR HOTEL PORTFOLIO


Land Securities Group PLC announced today that its property partnership
business, Land Securities Trillium ('LST') has completed its agreement to
acquire a portfolio of 30 hotels from Accor S.A. ('Accor').  LST is paying #439
million with a commitment to contribute approximately #35m of capital over four
years towards property improvement works.


LST will lease each hotel back to Accor on 84-year leases, which will include 12
year rolling breaks, while retaining responsibility for the lifecycle
maintenance of the core fabric of the buildings. The 30 hotels, which are
operated under the IBIS two-star and Novotel three-star brands, are
predominantly located in established city centre locations across the UK, with a
weighting towards London.


Ian Ellis, Chief Executive, Land Securities Trillium, said:


"This acquisition demonstrates the flexibility of Land Securities' business
model and advances our strategy of providing property solutions to leading
corporations and government institutions.  This is the first step in the
development of a long-term relationship with Accor and as its UK property
partner, we will now focus on helping Accor to expand its share of the UK hotels
market."



                                     -Ends-

For further information, please contact:
Emma Denne/ Ian Ellis                          Stephanie Highett/ Dido Laurimore
Land Securities                                Financial Dynamics
T [phone]                          T [phone]



NOTES TO EDITORS



Land Securities Trillium

Part of the Land Securities Group, Land Securities Trillium is one of the most
established and innovative names in property outsourcing. We focus on
understanding our customers' business and property requirements and meeting them
through excellent service and innovation.  We manage and provide services to
numerous commercial properties nationwide, for a growing number of companies and
government departments. These activities sit alongside Land Securities'
investment portfolio, worth many billions of pounds, which includes a vast range
of shopping centres and retail parks as well as London landmark buildings. We
are also involved in a major urban community development programme.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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