Accor has announced that its hotels business is set to shoulder the majority of the group's €1.6bn (£1.4bn) net debt as part of plans to demerge the company's two divisions.

Shareholders are set to vote on proposals to separate its prepaid services arm from the hotels business at an extraordinary meeting on 29 June 2010 as part of efforts to facilitate future growth. Accor SA, which will retain the hotels arm - including the Ibis and Motel 6 chains – will take on €1.2bn (£1.1bn) of the debt, while €400m (£352m) will be allocated to the new services company.

A spokesperson for the group said: "All of the work accomplished as part of the demerger process has created an internal dynamic that will enable the project to be carried out under the best possible conditions. "These ambitious corporate mission projects, which are highly motivating for employees, will give birth to two global market leaders capable of creating shareholder value."