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
AccorHotels and Algeciras Sign Agreement for Purchase of Chilean Group Atton Hotels
IHG to Rebrand and Operate 13 UK Hotels Through Agreement With Foncière des Régions Following Acquisition From Starwood Capital Group
Starwood Capital Group to Sell an £830m ($1.1b) Portfolio of U.K. Hotels to Foncière des Régions
AccorHotels Appoints Ian Ricci as Vice President of Development for Canada and the Caribbean
AccorHotels Acquires Mövenpick Hotels & Resorts for U.S. $567 Million
AccorHotels, Saunders Hotel Group and The Noannet Group Partner for Raffles Boston Back Bay Hotel & Residences Set to Open in 2021
AccorHotels Signs With DMCC for First SO/ Project in the Middle East Set for 2020 Opening in Dubai
In Partnership With DMCC, AccorHotels to Introduce First SO/ Project in the Middle East Slated for Opening in 2020
AccorHotels Signs Strategic Acquisition Agreement with Mantis Group for 50% Stake in Company
AccorHotels Plans Four SO/ Hotels in Berlin, St. Petersburg, Auckland and Vienna Opening by End of 2018
Australia Gives Go Ahead for AccorHotels Acquisition of Mantra Group
AccorHotels Plans Groundbreaking of Novotel Mexico City With Construction to Begin Later in 2018
AccorHotels Initiates Sale of Majority Stake in AccorInvest
Le Grand Amman - Managed by AccorHotels to Transition to Sofitel Amman Following Extensive Refurbishment in Late 2019
AccorHotels Working to Sell Part of AccorInvest’s Share Capital
AccorHotels Signs with Nakheel for Raffles Hotel and Residences at PALM360 on Palm Jumeirah, Dubai
Brazil Hospitality Group (BHG) Enters Partnership with AccorHotels for Management of 17 of BHG’s Owned Hotels
Q3 2017 Financial Reports Round Up Part 1: IHG, AccorHotels, LaSalle
Landmark Hotel Reopening Early 2018 in Poland as Raffles Europejski Warsaw Following Restoration
AccorHotels Signs an Agreement to Acquire Mantra Group Limited
Please login or register to post a comment.