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Accor sells hotels

News Two companies Predica and Fonciere des Murs have signed an agreement with the French hotel operator Accor Group to buy 48 of its hotels in France, Belgium and Germany for 367 million euro.

The return of the purchased real estate portfolio amounts to 6,6%. It includes 31 property units in France, 10 hotels in Belgium and another seven hotels in Germany. The shares were distributed in such a way that 80% will be owned by Predica and another 20% by Fonciere des Regions.

The most prominent hotels among purchased are the 722-room Ibis Paris Roissy Charles de Gaulle hotel and the Ibis Paris Porte d'Italie hotel in Paris featuring 257 rooms.

The agreement provides that Accor group leaves the management and jobs of the employees intact. At the moment hotels are operating under the following brands - Etap, Ibis, Novotel and SuiteHotel.

03.09.2010

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