ACCOR SELLS TWO IBIS PORTFOLIOS IN THE UK AND IRELAND

In two separate transactions, Accor has sold seven hotels (708 guest rooms) across the UK and Ireland in sale-and-franchise-back deals for €32.6 million (€46,000 per room).  Additionally, Accor also secured a commitment from the buyers to invest €5.2 million in renovating the hotels. The group sold five ibis properties in England (Birmingham, Bordesley Circus, Leicester City, London City, London Gatwick Airport, Plymouth and Sheffield City) to Starboard Hotels. The 89-room ibis Coventry Centre and the 150-room ibis Dublin West were acquired by a joint venture comprising hotel funder and developer Cannock Investments Ltd and real estate investor Hetherley Capital Partners. The portfolio sales are part of Accor's strategy to restructure its HotelInvest assets. Elbit to Sell its Belgian Hotels

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