Of the 29 hotels sold, 27 were acquired in June 2014 as part of the acquisition of the Moor Park portfolio.
As part of the restructuring of HotelInvest’s assets, Accor announces the sale and franchise-back of 29 hotels (3,354 rooms) in Germany (18 hotels, 2,167 rooms) and the Netherlands (11 hotels, 1,187 rooms) for a total value of 234
million euros.
The selling price amounts to 209m. euros. The buyer has committed to a 25m euros renovation plan. The portfolio comprises 2 ibis budget, 11 ibis, 12 Mercure and 4 Novotel hotels. Of the 29 hotels sold, 27 were acquired in June 2014 as part of the acquisition of the Moor Park portfolio. The two other establishments –an ibis budget in Germany and a Mercure in the Netherlands –were previously owned by HotelInvest.
The transaction will take place before the end of the summer 2015, with German company Event Hotels, one of the Group’s main franchisees, which has 15 hotels in Germany under the ibis, ibis Styles, Mercure and Pullman brands.
“By bringing the Moor Park deal to a close both quickly and in a way that offers promise over the long term, this major transaction with a top-quality partner is fresh testimony of HotelInvest’s capacity to successfully pursue its strategy,” said Sebastien Bazin, Chairman and Chief Executive Officer of Accor.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
