AccorHotels Pursues Transformation of HotelInvest with €281M Portfolio Purchase of 43 Hotels
October 19, 2015 10:55am
Paris, France - October 19, 2015 - 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.
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.
foncière des régions,
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 3,700 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:
Accor SA shares are listed on the Euronext Paris exchange (ISIN code: FR0000120404) and traded in the USA on the OTC marketplace (Code: ACRFY)
Contact: Gabrielle Haire
+33 1 45 38 84 87
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