It would seem that AccorHotels is not slowing down in its M&A plans. Last year, the French hospitality company announced and finalized several partnerships, bringing its total portfolio to 4,100 hotels and 580,000 rooms in 95 countries.
Now, AccorHotels and Edmond de Rothschild Investment Partners have started negotiations to acquire Potel & Chabot Group, a conference and event company with sales of approximately €100 million.
If the deal goes through, Edmond de Rothschild Investment Partners and AccorHotels will respectively hold 51 percent and 40 percent of the share capital, respectively. The proposed transaction is currently under specific review by the competition authority, and must be submitted for the consultation of employee representative bodies.
The deal, Franck Jeantet, chairman and CEO of Potel & Chabot, said in a statement, will support the company's growth in the luxury hospitality industry both in France and internationally. "This new alliance with AccorHotels, a world leader in hospitality, its hotel infrastructures throughout the world and its digital concierge services, will allow us to strengthen our leadership in the luxury sector," he said.
"The partnership of AccorHotels with Potel & Chabot...brings a complementary dimension and expertise to our F&B and event organization strategy," Sven Boinet, deputy CEO of AccorHotels, said. "Moreover, the combination of their knowledge with our leading positions in luxury hospitality, private rental and concierge services will provide our clients with unique services and expertise regarding tailor-made events. It gives us a real boost and allows us to create new growth opportunities beyond the world of travel."
This is only the latest acquisition from Accor Hotels. Last year, the company finalized the acquisition of FRHI Hotels & Resorts, and finalized its alliance with China’s Huazhu Group, which is set to accelerate AccorHotels’ brands in Asia with the opening of 350 to 400 properties in China, Taiwan and Mongolia over the next five years. Looking to capture the Airbnb demographic, AccorHotels moved into the luxury home rentals market by acquiring onefinestay, Squarebreak and Travel Keys. It also integrated 26 Brazil Hospitality Group (BHG) hotels and bought a stake in Germany's 25hours Hotels