AccorHotels Buys 29 Hotels in Europe
French hotel giant AccorHotels said Tuesday it acquired three hotel portfolios for 284 million euros (about $300 million).
The company bought 19 hotels in France from AXA Investment Managers under the ibis, ibis budget, Novotel, and Mercure brands. The second potfolio, from Invesco, includes six Novotel and Mercure brand hotels in Germany, Italy, the Netherlands, and Austria. The third, with Deutsche AWM, includes four Novotel hotels in Spain.
The deal with Deutsche AWM closed last month, the other two are expected to be finalized in 2016.
Photo courtesy: AccorHotels
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