AccorHotels has purchased a portfolio of 43 hotels with a total of 4,237 rooms from Foncière des Régions for a total of €281 million.
Located in France, the hotels have been operated under variable leases by AccorHotels since 2005 and 2007, under the ibis budget, ibis, Novotel, Mercure, Pullman and Sofitel brands.
The deal is scheduled to be finalized in the first half of 2016 and is subject to the usual conditions for this type of transaction. The agreement includes a substitution clause for the buyer, enabling HotelInvest to immediately integrate these hotels into its asset management program.
At the same time, considering the performance achieved by the 80 other hotels owned by Foncière des Régions, HotelInvest is committing to renew their lease agreements for 12 years, at the end of their respective terms.