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.

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


Suggested Articles

From services to small products in the bathroom, these guest amenities will become guest expectations in the near future.

With demand for contactless experiences on the rise and new programs coming online, property-management systems are evolving.

During the “Best Practices in Cleaning” panel, insiders shared how hoteliers can keep guests and employees safe.