AccorHotels finalizes sale of 85 Europe hotels to new franchised operator

Novotel

In January, AccorHotels announced plans to sell a portfolio of 85 economy and midscale hotels in Europe for a total consideration of €504 million. Today, the deal is done.

These hotels will now be brought together in Grape Hospitality, a dedicated hotel platform owned 70 percent by Eurazeo and 30 percent by AccorHotels. This newly created structure will be led by Frédéric Josenhans, formerly managing director of the Mercure and Novotel brands.

The portfolio transferred to Grape Hospitality consists of one Pullman, 19 Novotel, 13 Mercure, and 35 ibis, three ibis Styles and 14 ibis budget hotels. Most of these properties are located in France (61 hotels primarily in provincial towns and on the outskirts of conurbations), but also in Spain, Italy, Portugal, Germany, Austria, Belgium and the Netherlands. All these hotels will retain their affiliation with the AccorHotels brands through franchise contracts.