As a world-renowned hotel management company, Mövenpick is strongly positioned to complement AccorHotels property portfolio. This marks a consolidation of AccorHotels presence in the upscale segment.
AccorHotels announced the close of its acquisition of Mövenpick Hotels & Resorts. The Enterprise Value (EV) represents CHF 560m. (482m. euros) and encompasses 100% of Mövenpick company’s share capital, as well as ownership of the Mövenpick brand for all activities related to the hospitality business. This does not include Movenpick’s other activities (wine distribution, ice-cream or markets etc.).
As a world-renowned hotel management company, Mövenpick is strongly positioned to complement AccorHotels property portfolio. This marks a consolidation of AccorHotels presence in the upscale segment.
Mövenpick Hotels & Resorts fits perfectly within the AccorHotels portfolio: as a well-regarded full-service brand, it fills the current gap between AccorHotels Midscale Mercure and Novotel brands and the Upper Upscale Swissotel, Pullman and MGallery brands.
It brings with it an impressive portfolio of full-service addresses located in city centers and resort destinations in key strategic markets around the world, such as Mövenpick Resort & Spa Dead Sea, Mövenpick Resort & Spa Jimbaran Bali, Mövenpick Hotel Mansour Eddahbi Marrakech and the popular Mövenpick Hotel Amsterdam City Centre.
The addition of Mövenpick’s existing network and signed pipeline reinforces AccorHotels’ current footprint in Europe and Asia and accelerates growth in such regions as Africa and notably the Middle East, where Mövenpick enjoys significant brand awareness.
Why did AccorHotels decide to acquire Mövenpick Hotels & Resorts?
- Mövenpick is a Swiss/European-rooted brand which fits well with AH’s heritage
- It fills a niche in the Group’s portfolio, on premium segment
- Its culture of innovation, sustainability and care for the community is shared by AH
- It will bolster AH’s presence with Mövenpick strong brand awareness in the MEA
- It is an asset-light business consistent with AH’s post-booster development strategy
- It is a great opportunity to increase AH’s pace of development
- There is long-term potential to grow the brand in Africa and ASPAC
- A shared opportunity to work with new owners
By joining AccorHotels, Mövenpick Hotels & Resorts will benefit from:
- Group’s loyalty program.
- Distribution channels and operating systems that will ultimately serve to improve top-line performance across the network.
Mövenpick Hotels & Resorts currently comprise 84 properties with over 20,000 rooms and 42 signed pipeline hotels to be opened before December 2021
The Mövenpick network consolidates AccorHotels’ footprint in Europe and Asia while accelerating growth in Africa and the Middle East, where Mövenpick enjoys significant brand awareness.
Mövenpick Hotels & Resorts currently has 15 properties, 3,605 rooms in seven countries in Asia and 16 properties, 5,526 rooms in the pipeline in Asia.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
