AccorHotels Restructures Major Lease Portfolio with ADIA in Australia

AccorHotels | December 22, 2016

AccorHotels is pleased to announce that it has successfully reached agreement with a wholly-owned subsidiary of the Abu Dhabi Investment Authority ("ADIA") to restructure a portfolio of 31 hotels (4,097 rooms) in Australia.

The agreement involves a portfolio which was purchased by the ADIA subsidiary in 2013 and operated by AccorHotels.

Under the restructure of the portfolio of 31 hotels: AccorHotels will convert 15 triple-net leases into 50 year management agreements and extend the management term of one hotel also to 50 years (total 16 hotels); AccorHotels (HotelInvest) will acquire the real estate of the remain...