AccorHotels has announced the purchase of a portfolio of 43 hotels (4,237 rooms) from Foncière des Régions, for a total of €281 million (£202 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 finalised 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.
“This transaction represents an important new step in the process of optimising HotelInvest, Europe’s leading hotel investor in the economy and midscale segments. The agreement with Foncière des Murs, AccorHotels’ main lease partner, demonstrates once again the Group’s ability to implement innovative, win-win solutions,” commented Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels.
