• Accor buys hotels

Accor has agreed EUR900m of deals buy the freeholds of 97 hotels that it already operates, across Europe. Two deals will see it acquire packages of properties in Germany and Holland, and 11 hotels in Switzerland.

The German and Dutch hotels have been bought from funds managed by Moor Park, and have been run under Ibis, Mercure and Novotel flags since 2007. All were being operated under flexible lease deals.
Read the full story here:
http://www.accor.com/fileadmin/user_upload/Contenus_Accor/Finance/Pressreleases/2014/UK/pr_accor_hotelinvest_may_2014.pdf

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