accor

Accor Announces Billion Dollar Hotels Buyout

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May 28, 2014

This week’s buyout of the week is actually a “buy back” in the sense that Accor, a major player in the hospitality industry, announced it would acquire for USD 1.23 billion 97 hotels from real estate fund managers (that act and finance activity in much the same way that PE funds do), the same investors that acquired the hotels from Accor seven years ago.

 

According to the WSJ, Accor said it is buying hotels in Germany and the Netherlands from private-equity fund Moor Park Capital Partners. All the hotels are operated by Accor under its Ibis, Ibis Budget, Mercure and Novotel brands. Accor had sold these hotels to Moor Park for USD 747 million in 2007, said the newspaper.

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