Accor SA said it will sell its entire 50 pct stake in Carlson Wagonlit Travel, a travel agency owned jointly with Carlson Companies of the US, for 465 mln USD.

'This divestment is the first step in the refocusing on our two core businesses: hotels and services,' said chief executive Gilles Pelisson.

Carlson will buy 5 pct of Carlson Wagonlit, bringing its total stake to 55 pct, and One Equity Partners, a unit of JP Morgan, will buy the remaining 45 pct.

Accor said that as part of the sale, it has signed a three-year renewable partnership with Carlson Wagonlit, which will give Accor hotels preferred distribution.

Accor will also continue to use Carlson Wagonlit's travel services.