AccorHotels has acquired a portfolio of 43 hotels across France from Foncière des Règions for €281 million. AccorHotels has operated the hotels in the portfolio under variable leases since 2005 and 2007 as ibis budget, ibis, Novotel, Mercure, Pullman and Sofitel properties. The transaction is expected to close during the first half of 2016; however, owing to a substitution clause for the buyer, Accor's HotelInvest division will integrate the properties into its asset management programme immediately. "This transaction represents an important new step in the process of optimizing HotelInvest, Europe's leading hotel investor in the economy and midscale segments," said Accor's Chief Executive Officer, Sébastien Bazin.
HVS EMEA HOSPITALITY NEWSLETTER.