ACCOR PURCHASES 43-PROPERTY PORTFOLIO FROM FONCIÈRE DES RÈGION

AccorHotels has acquired a portfolio of 43 hotels across France from Foncière des Règions for €281 million. AccorHotels has operated the hotels in the portfolio under variable leases since 2005 and 2007 as ibis budget, ibis, Novotel, Mercure, Pullman and Sofitel properties. The transaction is expected to close during the first half of 2016; however, owing to a substitution clause for the buyer, Accor's HotelInvest division will integrate the properties into its asset management programme immediately.

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