AccorHotels updates Orbis acquisition plans

Mercure Warszawa Grand
The Mercure Warszawa Grand is part of Orbis' portfolio. Photo credit: Orbis Hotel Group

In November, France’s AccorHotels announced plans to buy all remaining shares of Polish hotel operator Orbis Hotel Group for PLN1.9 billion ($501 million), a strong sign of the company’s interest in Central and Eastern Europe.

Late last week, following the end of the subscription period for the tender offer, the company announced updates to its plans. 

In accordance with the preliminary results of the offer, investors are seeking approximately 15.3 million Orbis shares at an offer price of PLN95.0, for a total consideration of PLN1.45 billion (€337 million) constituting approximately 33.1 percent of the share capital of Orbis. 

Virtual Event


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.

The final number of shares in Orbis subscribed for in the offer will be confirmed on the date of the share purchase transaction by AccorHotels, which will take place on January 23. The settlement of the shares by AccorHotels will take place on January 28.

Following the settlement of the offer and subject to the final confirmation of the number of shares submitted by the investors in the offer, AccorHotels will own, directly and indirectly, 85.8 percent of Orbis’ share capital. The group will then explore options regarding the value of Orbis’ asset portfolio.

“AccorHotels and Orbis have built a long-term partnership since their first business agreement 45 years ago,” said Sebastien Bazin, chairman and CEO of AccorHotels, in November. “As its largest shareholder since 2000, AccorHotels has fully supported Orbis’ growth in Poland, then across Central Europe since 2014, where Orbis has become today a formidable leader. The proposed transaction will enable AccorHotels to accelerate its development in the region. In addition, it will enable AccorHotels to further implement its active asset-management policy.”  

Suggested Articles

Occupancy, rate and revenue all were down from August, but not by significant amounts.

Patrick Barrett, Younes Atallah and Reggie Dominique will lead hotels in New Orleans, Santa Monica and Los Angeles, respectively.

Radisson Individuals aims to bring independent hotels and local, regional chains into the global Radisson Hotel Group platform.