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.
AccorHotels announces the purchase of a portfolio of 43 hotels (4,237 rooms) from Fonciere des Regions, for a total of 281 million euros. 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 Fonciere des Regions, 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 Fonciere des Murs, AccorHotels’ main lease partner, demonstrates once again the Group’s ability to implement innovative, win-win solutions,” commented Sebastien Bazin, Chairman and Chief Executive Officer of AccorHotels.
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