Important! This article is written by orangesmile.com editors and is protected by copyright law. The article can only be re-used with a direct link to www.orangesmile.com

18 middle class hotels in Sweden are sold by Accor

Accor has got rid of its hotels in Sweden. The company sold its entire portfolio – 14 hotels under the brand name Ibis and 4 hotels under the Formule 1 brand. Ibis hotels were in the property of the hotelier and Formule 1 was a joint venture with Sveafastigheter and Event Holding. Both hotel chains are referred to a budget segment, enumerating 1760 rooms in total. The sum of the agreement is not disclosed. The deal includes such popular hotels as 120-key Ibis hotel in Goteborg City, 255-key Ibis hotel in Malmo and 143-key Ibis hotel in Sundsvall City.

However, this step doesn't mean Accor leaves Sweden hotel market. The company plans to start new wave of expansion across this region soon. New hotels will be mostly acquired using management and franchise contracts. In the plans of the organization are the hotels in Denmark, Sweden and Norway. Currently Accor has its Scandinavian international office located in Sweden. It is not closed when the hotels have been sold and will continue operating.

Most probably, the company will continue its long-time partnership with Event Holding – a Cologne based franchisee company that operates such hotel brands as Ibis, Mercure, Pullman and All Seasons.

The agreement concerning the hotels in Sweden is a part of the plan developed by Accor. The company plans to sell accommodations worth 2 billion Euros until 2013. 600 million from this sum will come this year.

Previous article / Back to news index

Stay in touch with the latest news of a worldwide hotel industry. All up-to-date analytics, news, and reports about hotel business trends on OrangeSmile.com.