AccorHotels pursues the transformation of HotelInvest with the purchase of a portfolio of 43 hotels in France for €281 million
AccorHotels announces the purchase of a portfolio of 43 hotels (4,237 rooms) from Foncière des Régions, for a total of €281 million. Located in France, the hotels have been operated under variable leases by AccorHotels since 2005 and 2007, under the ibis budget, ibis, Novotel, Mercure, Pullman and Sofitel brands.
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AccorHotels pursues the transformation of HotelInvest with the purchase of a portfolio of 43 hotels in France for €281 million
AccorHotels announces the purchase of a portfolio of 43 hotels (4,237 rooms) from Foncière des Régions, for a total of €281 million. Located in France, the hotels have been operated under variable leases by AccorHotels since 2005 and 2007, under the ibis budget, ibis, Novotel, Mercure, Pullman and Sofitel brands.
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Category: Europe - France - Industry economy -
Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2015-10-20
The deal is scheduled to be finalized in the first half of 2016 and is subject to the usual conditions for this type of transaction. The agreement includes a substitution clause for the buyer, enabling HotelInvest to immediately integrate these hotels into its dynamic asset management program.
At the same time, considering the solid performance achieved by the 80 other hotels owned by Foncière des Régions, HotelInvest is committing to renew their lease agreements for 12 years, at the end of their respective terms.
"This transaction represents an important new step in the process of optimizing HotelInvest, Europe's leading hotel investor in the economy and midscale segments. The agreement with Foncière des Murs, AccorHotels' main lease partner, demonstrates once again the Group's ability to implement innovative, win-win solutions," commented Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels.
About AccorHotels AccorHotels is a Group united by a shared passion for hospitality and driven by a shared promise to make everyone Feel Welcome. Over 180,000 women and men in almost 3,800 AccorHotels establishments look after thousands of guests every day in 92 countries.
AccorHotels is the world’s leading hotel operator and offers its customers, partners and employees: - its dual expertise as a hotel operator and franchisor (HotelServices) and a hotel owner and investor (HotelInvest);
- a large portfolio of internationally renowned brands covering the full spectrum, with luxury (Sofitel, Pullman, MGallery, Grand Mercure, The Sebel), midscale (Novotel, Suite Novotel, Mercure, Mama Shelter, Adagio) economy (ibis, ibis Styles, ibis budget, adagio access and hotelF1) establishments;
- a powerful marketplace and loyalty program Le Club AccorHotels
- almost half a century of commitment to corporate citizenship and solidarity with the PLANET 21 program. Accor SA shares are listed on the Euronext Paris exchange (ISIN code: FR0000120404) and traded in the USA on the OTC marketplace (Code: ACRFY)
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