The world's fourth-largest hotel group, which is undergoing a reorganisation initiated by Chief Executive Sebastien Bazin, is also changing its name to "AccorHotels", in line with its website, as part of the strategy. "The transformation of our distribution platform into an open market place is a major step for the group and reflects a new approach," Bazin said in a statement. Accor, which competes with InterContinental, Marriott and Starwood, said the investment comes on top of the 225 million euros it has announced it would spend to beef up its digital business between 2014 and 2018. Accor has 3,700 hotels worldwide ranging from the luxury Sofitel to the budget Ibis brands. Its goal is to triple its online offering to 10,000 hotels by 2018 via this new service to be launched in July. Get the full story at Reuters