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 transaction will take place before the end of the summer 2015, with German company Event Hotels, one of the Group's main franchisees, which has 15 hotels in Germany under the ibis, ibis Styles, Mercure and Pullman brands.
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 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 – were previously owned by HotelInvest.
The transaction is subject to the usual conditions and to approval by the relevant authorities.
