Accor finalises purchase of Movenpick

Thursday, 04 Sep, 2018 0

 

France’s AccorHotels has completed its takeover of Movenpick Hotels & Resorts for €480 million.

It has bought 100% of Movenpick’s shares, its brand and activities relating to the hospitality business.

As a result, 84 hotels operated by Movenpick will be integrated into Accor’s global portfolio of more than 4,500 hotels.

Speaking at a press conference in Dubai, AccorHotels Luxury Brands CEO Chris Cahill said the Movenpick family brand fitted well into Accor’s existing portfolio. Also, its strong existing MEA portfolio was a key attraction for Accor.

Currently, the hotel company has 42 additional hotels under development, which are due to open by 2021.



 

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Linsey McNeill

Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk



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