AccorHotels pursues the transformation of HotelInvest with the purchase of asset portfolios from three European investors for €284 million (France)
AccorHotels announces the purchase of three hotel asset portfolios in Europe representing 29 hotels (3,677 rooms), for a total of €284 million. |
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AccorHotels pursues the transformation of HotelInvest with the purchase of asset portfolios from three European investors for €284 million (France)
AccorHotels announces the purchase of three hotel asset portfolios in Europe representing 29 hotels (3,677 rooms), for a total of €284 million. |
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 2015-12-02
The transactions are composed of: - A portfolio acquired from AXA Investment Managers – Real Assets, acting on behalf of its clients, for a total of €56 million. The portfolio comprises 19 hotels in France (1,512 rooms) that have been operated under variable leases by AccorHotels since 2008, under the ibis budget, ibis, Novotel and Mercure brands.
- A portfolio purchased from Invesco for €152 million which comprises six hotels (1,347 rooms). Located in Germany (2), Italy (2), the Netherlands (1) and Austria (1), the hotels were operated under fixed and variable leases under the Novotel and Mercure brands.
- A portfolio purchased from Deutsche AWM for €76 million. This portfolio comprises four Novotel hotels (818 rooms) located in Madrid (2), Barcelona (1) and Seville (1), which were operated under fixed leases prior to the acquisition.
The two first deals are scheduled to be finalized during first-half 2016 and are subject to the usual conditions for this type of transaction. They include substitution clauses for the buyer, enabling HotelInvest to integrate the hotels directly into its dynamic asset management program. The transaction with Deutsche AWM has been finalized on November 27, 2015.
"Following the recent acquisition of 43 hotels from Foncière des Régions, these transactions once again demonstrate HotelInvest's expertise in dynamically managing its real estate assets", said John Ozinga, Chief Operating Officer of HotelInvest, Europe's leading hotel investor. "The transformation of HotelInvest is continuing at a fast pace, with close to €1.0 billion worth of real-estate transactions secured in 2015. We are on track with our roadmap and with the completion of our three-year plan to significantly increase Group’s performance."
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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