AccorHotels completes Mövenpick acquisition

2018-09-05 Tag: AccorHotels

AccorHotels,AccorHotels completes Mövenpick acquisition

 

Paris-based hospitality giant AccorHotels has completed its acquisition of Mövenpick Hotels & Resorts. The enterprise value represents €482 million and encompasses 100 percent of Mövenpick’s share capital, as well as ownership of the Mövenpick brand for all activities related to the hospitality business.

Mövenpick’s portfolio includes 84 properties with more than 20,000 rooms and a pipeline of 42 hotels slated to open before December 2021. The Mövenpick network consolidates AccorHotels’ footprint in Europe and Asia while accelerating growth in Africa and the Middle East, where Mövenpick has significant brand awareness. AccorHotels, meanwhile, has a portfolio of more than 4,500 hotels, resorts and residences and 10,000 private homes.

“With a footprint in more than 20 countries, we strongly believe Mövenpick represents a strategic opportunity to bring synergies and new developments in key areas,” said Sebastien Bazin, CEO of AccorHotels, in a statement. “Mövenpick’s European-Swiss heritage and its combination of modernity and authenticity embodied by committed and talented teams fit perfectly with AccorHotels’ core value. Along with our new partners and thanks to our strengthened brand offering further enhancing the variety of experiences available to our clients, we look forward to a rewarding future together.”



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