Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

AccorHotels sells 57.8% of AccorInvest for €4.6b

31 May 2018 by
AccorHotels sells 57.8% of AccorInvest for €4.6b

AccorHotels has completed the sale of 57.8% of the capital of AccorInvest to a group of private investors.

The investors include sovereign wealth funds Public Investment Fund (PIF) and GIC, and institutional investors Colony NorthStar, Crédit Agricole Assurances and Amundi.

For AccorHotels, the transaction results in a gross cash contribution of €4.6b (£4b), which is slightly more than the €4.4b (£3.9b) announced in February and in line with the higher percentage of capital finally sold.

AccorHotels will therefore hold 42.2% of the capital of AccorInvest. As part of the transaction, AccorHotels and AccorInvest will maintain their relationship through long-term partnership agreements.

Sébastien Bazin, chairman and chief executive of AccorHotels, said: "By completing the sale of close to 58% of the capital of AccorInvest, we have successfully finalised the transformation process begun five years ago.

"The deal enables us to further accelerate the development of AccorHotels by focusing our resources and energy on strengthening our brand portfolio and our leadership position in key markets, and on pursuing our strategy of delivering innovation and excellence to our guests and hotel owner partners. With our new, primarily asset-light structure, we will be able to deploy our ambitious and disruptive vision of ‘augmented hospitality' to the full."

John Ozinga, chief executive of AccorInvest, added: "Today is the start of a new chapter for AccorInvest. With greater resources and fully engaged teams, we are now going to speed up the consolidation of our portfolio, the renovation and repositioning of our assets, and the development of new projects.

"Drawing on the strength of AccorHotels' brands, we intend to cement our position as the leading hotel investor in Europe by enhancing the attractiveness and value of our hotel portfolio."

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking