Accor is to dispose of its assets in a bid to cut $1.6bn of debt in 2011 / 12.

As part of its divestment plan, the French hotel group will sell more than 450 hotels and plans to operate or franchise most of these properties.

Accor had previously announced plans to reduce its debt by €2bn ($2.74bn) between 2010 and 2013.

The hotel company lowered its borrowings by €630m ($863.9m) last year.