ACCOR’S HOTELINVEST TO ACQUIRE TWO PORTFOLIOS
French group Accor announced this week that its investment arm, HotelInvest, is to acquire two European hotel portfolios for around €900 million. The first portfolio comprises 86 hotels (11,286 rooms), 67 of which are in Germany and 19 in the Netherlands. The hotels have been operated by Accor since 2007 (via variable rent leases) under its ibis, ibis budget, Mercure and Novotel brands. This portfolio is being purchased for €722 million from two funds, Moor Park Fund I and II. Additionally, HotelInvest is negotiating with Axa Real Estate for a portfolio of 11 hotels (1,592 rooms) across Switzerland. Accor has operated these properties (via variable rent leases) under the ibis, ibis budget, Novotel and MGallery brands.