Article from BTNews 24 SEPTEMBER 2018
Accor seals Mövenpick deal
More than 80 hotels with a total of 20,000-plus rooms changed hands last week with the Paris-based Accor group officially acquiring Mövenpick Hotels & Resorts for €482m to consolidate Accor’s presence in the upmarket sector.
The deal also includes 42 signed pipeline hotels due to be opened before December 2021, giving AccorHotels a wider footprint in Europe and Asia while accelerating growth in Mövenpick strongholds in Africa and the Middle East.
AccorHotels holdings range from the Mercure and Novotel offerings to the upmarket Swissotel, Pullman and MGallery brands. The group also now incorporates luxury names Fairmont, Raffles and the Australian Mantra Group for a total portfolio of more than 4,500 properties.
AccorHotels CEO Sebastien Bazin said: “With a footprint in more than 20 countries, we strongly believe Mövenpick represents a strategic opportunity to bring synergies and new developments in key areas.
“Mövenpick’s European-Swiss heritage and its combination of modernity and authenticity embodied by committed and talented teams fit perfectly with AccorHotels’ core value.
“Along with our new partners and thanks to our strengthened brand offering further enhancing the variety of experiences available to our clients, we look forward to a rewarding future together.”
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