Europe's largest hotel group Accor SA (ACCP.PA) is bidding for Shanghai Motel Management Co, a Chinese motel chain majority owned by Morgan Stanley (MS.N) that could fetch $1 billion, sources with direct knowledge of the matter said. Chinese budget hoteliers Home Inns & Hotels Management Inc (HMIN.O) and Shanghai International Jin Jiang International Hotels Group Co are other bidders that could have expressed interest, they said. Accor and Morgan Stanley declined comment. Other companies mentioned in the report could not be reached for an immediate comment.
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