The French canteen operator wants to sell a renowned Parisian revue theater to Europe's largest hotel group.

Sodexo has reached an agreement with Accor for the planned sale of Cabaret Le Lido, said a Sodexo spokesman in an email to Reuters, confirming a report by the newspaper "Les Echos".

Sodexo declined to provide any further details about the transaction.

Accor did not want to comment.

A meeting with the staff representatives should take place at the beginning of next week.

According to the Les Echos report, the price is "symbolic" given the difficulties the sector is facing as a result of the coronavirus pandemic.

The Lido is located on the Parisian boulevard Champs Elysee and is popular with tourists.