Ideally located close to the main railway station and the old town, and offering 138 rooms and suites, the hotel will continue to be operated by Accor under a long-term management contract.
Accor announces the signing of a sale and management-back agreement for the Zurich MGallery with a private investor, already an Accor franchisee, for a total of 55 million euros (355K euros per room). This amount includes the sale price of 32 million euros and a commitment from the buyer to carry out 23 million euros worth of renovations as soon as the transaction is finalized.
Ideally located close to the main railway station and the old town, and offering 138 rooms and suites, the hotel will continue to be operated by Accor under a long-term management contract.
The asset was part of the acquisition of a portfolio from Axa Real Estate announced in 2014.
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.
