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AccorHotels completes acquisition of Mövenpick Hotels

PARIS, September 4, 2018

AccorHotels has announced the completion of its acquisition of Mövenpick Hotels & Resorts. The transaction involves the purchase of 100 per cent of the share capital of Mövenpick Hotels & Resorts, and ownership of the Mövenpick brand for all activities related to the hospitality business.

AccorHotels made this acquisition at an enterprise value of CHF560 million ($577.4 million).

Through the acquisition, Mövenpick Hotels & Resorts’ network of 84 properties representing over 20,000 rooms will join AccorHotels’ existing portfolio of more than 4,500 hotels, resorts and residences and 10,000 private homes around the globe.

The addition of Mövenpick’s existing network and signed pipeline reinforces AccorHotels’ current footprint in Europe and Asia and accelerates growth in key regions such as Africa and the Middle East where Mövenpick enjoys significant brand awareness through 69 operational and pipeline hotels comprising over 18,000 rooms.

Mövenpick Hotels & Resorts fits perfectly within the AccorHotels portfolio: as a well-regarded full-service brand, it fills the current gap between AccorHotels midscale Mercure and Novotel brands and the upper upscale Swissotel, Pullman and MGallery brands.

With the close of this acquisition, AccorHotels has become the largest operator by room number in the Middle East and Africa with a committed network (operational and pipeline) of over 400 hotels representing almost 100,000 rooms across the region.

Mövenpick brings with it an impressive portfolio of full-service addresses located in city centres and resort destinations in key strategic markets around the world, such as Mövenpick Resort & Spa Dead Sea, Mövenpick Resort & Spa Jimbaran Bali, Mövenpick Hotel Mansour Eddahbi Marrakech and the popular Mövenpick Hotel Amsterdam City Centre.

"With a footprint in more than 20 countries, we strongly believe Mövenpick represents a strategic opportunity to bring synergies and new developments in key areas. Mövenpick’s European-Swiss heritage and its combination of modernity and authenticity embodied by committed and talented teams fit perfectly with AccorHotels’ core value. Along with our new partners, and thanks to our strengthened brand offering further enhancing the variety of experiences available to our clients, we look forward to a rewarding future together," said Sebastien Bazin, chairman and CEO of AccorHotels

Mövenpick Hotels & Resorts will benefit from AccorHotels’ loyalty programme, distribution channels and operating systems that will ultimately serve to improve top-line performance across the network. - TradeArabia News Service




Tags: Movenpick | AccorHotels |

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