Accor agrees another purchase
AccorHotels has agreed a deal to purchase Chile-based Atton Hoteles, which operates 11 Atton hotels across Chile, Peru, Colombia and Florida.
Accor will also acquire a 20% stake in the property company that owns these hotels with management investment group Algeciras taking the remaining 80%.
Atton has another three hotels in development.
Its portfolio caters to business travelers in the midscale and upscale segment.
Patrick Mendes, CEO of AccorHotels, South America, said: "We are delighted to have come to this strategic agreement with Algeciras.
"With Atton’s portfolio, AccorHotels will strengthen its leadership position in Latin America and complement its offer to its customers and loyalty members with attractive key destinations."
AccorHotels expects the deal to be finalised in the second half of 2018.
It has more than 500 hotels open or under development in Latin America.
The Atton hotels will eventually be rebranded to Accor brands such as Pullman, Novotel, MGallery and Mercure.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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