Accor has purchased a 35% stake in the capital of French budget design chain, Mama Shelter, giving Mama Shelter access to Accor’s development and distribution network. Mama Shelter currently has properties across France and one in Istanbul, Turkey, but the group is expanding, with 20 new hotels due to open over the next five years. Commenting on the new partnership, Accor’s chairman and chief executive officer, Sébastien Bazin, said, “This agreement is the outcome of a beautiful encounter and a shared desire to learn from our respective talents. I am very happy to be embarking on this new adventure. Thanks to this partnership, Accor is enriched by the original know-how that has made Mama Shelter such a splendid success.”
HVS EMEA HOSPITALITY NEWSLETTER.