Accor buys Mövenpick hotels
Mövenpick Holding is selling its hotels to the French Accor Group. According to Accor, the purchase price is CHF 560 million.
AccorHotels is acquiring Mövenpick Hotels & Resorts from Mövenpick Holding and Kingdom Holding. Corresponding agreements were signed on April 30, Accor says.
Mövenpick Hotels & Resorts, founded in Switzerland in 1973, operates 84 hotels in the upscale segment in 27 countries and has a particularly strong presence in Europe and the Middle East. By 2021, a further 42 properties with almost 11,000 rooms are to be added, with the focus of expansion on the Middle East, Africa and the Asia-Pacific region.
The transaction is expected to close in the second half of the year and is still subject to regulatory approvals.
Not affected by the sale are the other divisions of Mövenpick Holding such as Mövenpick Fine Foods or Marché International.
(Visited 68 times, 1 visits today)
