AccorHotels sells and franchises back two hotels

10 July 2015 by
AccorHotels sells and franchises back two hotels

The 51-bedroom Ibis Birmingham Centre Irving Street and 51-bedroom Ibis Coventry South have been acquired by Nine Hospitality, after previously been bought by AccorHotels in December 2014 as part of the Tritax portfolio of 13 hotels for £70.2m.

This current transaction follows the group's sale and franchise back of seven of the 13 hotels for £23.5m in May to Starboard Hotels and Hetherley Capital Partners.

AccorHotels has now completed its review of all 13 hotels, with eight hotels sold and franchised back and three of the five hotels retained being converted from HotelF1 sites into extensions of adjacent Ibis hotels - Liverpool City, London Thurrock and London Barking.

The transactions are in line with HotelInvest's strategy to streamline, consolidate and manage its portfolio of owned properties, whilst strengthening its economy and midscale brands. HotelInvest has completed the sales and acquisitions of 28 hotels in the UK and Ireland since November 2013.

Hervé Deligny, chief operating office of HotelInvest AccorHotels UK & Ireland, said: "This transaction demonstrates our ability to act swiftly in implementing our strategy and creating value from our portfolio. We remain focused on strengthening our position as the largest owner of economy and midscale hotels in key European markets such as the UK and becoming the largest and best performing hotel investor in Europe."

Sale and franchise-back of seven Accor hotels for £27m >>

Accor rebrands as AccorHotels >>

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