hotelinvest
AccorHotels Reveals Initiative to Convert HotelInvest into a Subsidiary to Accelerate Growth
AccorHotels | July 13, 2016
July 13, 2016- After three years of transformation that have resulted in the development of two well- structured, strategically related business lines with record performances, AccorHotels is pursuing its strategy of continuous improvement and significant expansion by initiating a project to create a dedicated subsidiary for its HotelInvest operations. The aim of the project is to strengthen AccorHotels' financial resources in order to accelerate growth, while also providing a legal structure that will ultimately enable third-party investors to hold the majority of HotelInvest's capital. AccorHotels would use the additional fina...
AccorHotels Finalizes Sale of 85-Hotel Portfolio in Europe for €504 Million ($561.9M)
AccorHotels | July 1, 2016
As part of the transformation of the HotelInvest asset base, AccorHotels announces the sale of a portfolio of 85 hotels in Europe in the Economy and Midscale segments, for a total consideration of €504 million, in accordance with the terms announced on January 27, 2016. These hotels will now be brought together in Grape Hospitality, a dedicated hotel platform owned 70% by Eurazeo and 30% by AccorHotels. This newly created structure will be led by Frédéric Josenhans, formerly Managing Director of the Mercure and Novotel brands, assisted by a team of hotel and real-estate professionals. The portfolio transferred to Grap...
AccorHotels Negotiating 85-Hotel Portfolio Sale to New Hotel Investment Company for €504 Million ($551.7M)
AccorHotels | January 28, 2016
A portfolio of 85 hotels in Europe in the Economy and Midscale segments, for an asset value of €504 million, including: 28 hotels assets and the business interest of all 85 hotels, sold by AccorHotels for €146 million. 57 hotel assets covered by the purchase agreements containing a substitution clause for the buyer signed with Foncière des Régions, Axa IM – Real Assets and Invesco, for a total amount of €358 million. All of the hotels included in the transaction will maintain their AccorHotels brand via long-term franchise agreements and will benefit from an ambitious renovation program to be ca...
AccorHotels Pursues Transformation of HotelInvest with €281M Portfolio Purchase of 43 Hotels
AccorHotels | October 19, 2015
Paris, France - October 19, 2015 - AccorHotels announces the purchase of a portfolio of 43 hotels (4,237 rooms) from Foncière des Régions, for a total of €281 million. 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 ...
Accor Enters Sale & Franchise-Back of Seven Hotels in United Kingdom and Ireland for $58.9 million
Accor | May 22, 2015
As part of the Group's strategy to restructure the assets of HotelInvest, its hotel owner and investor business, Accor today announces the sale and franchise-back of seven hotels (708 rooms) for €32.6 million, along with a commitment from the buyers to carry out €5.2 million worth of renovations. The transactions were carried out with two strong partners: Starboard Hotels Ltd. for a portfolio of five ibis hotels (Birmingham Bordesley Circus, Leicester City, London Gatwick Airport, Plymouth and Sheffield City) and a joint venture between Cannock Investments Ltd and Hetherley Capital Partners for the ibis Coventry Centre and the ibis ...
Accor Sells 29 Hotels in Germany and the Netherlands Under a $259M Sales & Franchise-back Agreement
Accor | April 29, 2015
Paris, April 29, 2015 - 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. The selling price amounts to €209m. The buyer has committed to a €25m 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 – w...
