The AccorHotels group has announced a raft of deals to buy a total of 29 hotels across three deals worth €284m.
The three individual deals see AccorHotels buy six sites from Invesco for €152m, four from Deutsche for €76m and 19 from AXA Investment Managers for €56m. The Deutsche deal was completed on 27 November and the other two are expected to be closed in early 2016.
The sites are spread across Europe, with large sites in Germany, Austria, Spain and the Netherlands. Accor Hotels Hotel Invest Unit chief operating officer John Ozinga said the deals mean the group is “on track with our roadmap and on course to significantly increase the group’s performance”.
AccorHotels is a French group that currently operates in 94 countries across five continents. The newest acquisitions will take the total number of sites under the group’s management to around 3,750. Its brands include Grand Mercure, Novotel and Adagio.