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French hotel group Accor purchases 13 UK properties
POSTED 28 Aug 2014 . BY Chris Dodd
The group has acquired properties that it currently leases around the UK Credit: Shutterstock.com/Dmitry Kalinovsky
French hotel group Accor has spent €89m (US$117.m, £71m) on acquiring 13 UK properties as it looks to gain ownership over the hotels it currently leases.

The transition away from the often-popular asset-light strategy deployed by other hotel groups comes as the business looks to re-structure under the guidance of new chief executive and chairman Sébastien Bazin.

The group will now feature two main divisions, its HotelInvest sector, which will act as a property investor, while the other will be known as HotelServices, with a role of running hotels and managing brands.

Accor, known for its Ibis, Novotel and Mercure brands, has bought the 13 hotels from investment group Tritax.

“These transactions demonstrate Accor’s ability to act swiftly in implementing the strategy announced nine months ago,” said John Ozinga, COO of HotelInvest.

“It’s an important step forward in the significant restructuring that we are leading in HotelInvest, fully aligned with our objectives which include creating value by optimising return on capital employed, while strengthening our position as the largest owner of economy and midscale hotels in key European markets.”

The group's acquired portfolio, which includes 12 Ibis and one Ibis budget hotels, represents 1,194 rooms in regional locations including: Coventry, Coventry South, Birmingham Holloway Circus, Birmingham Bordesley, Leicester City, Plymouth, Sheffield City Shude, Liverpool, Manchester Princess Street, as well as London Stratford, London Thurrock and London Barking.

The move from Accor flies in the face of a number of its competitors, which tend to lend themselves to a strategy seeing more leases than acquisition and ownership agreements.

The entrance of Accor into UK ownership comes as international hotel operator Kempinski has announced that it will be temporarily without a presence in the UK, after mutually agreeing to end the management contract for The Stafford London, currently owned by Britannia Hospitality.
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NEWS
French hotel group Accor purchases 13 UK properties
POSTED 28 Aug 2014 . BY Chris Dodd
The group has acquired properties that it currently leases around the UK Credit: Shutterstock.com/Dmitry Kalinovsky
French hotel group Accor has spent €89m (US$117.m, £71m) on acquiring 13 UK properties as it looks to gain ownership over the hotels it currently leases.

The transition away from the often-popular asset-light strategy deployed by other hotel groups comes as the business looks to re-structure under the guidance of new chief executive and chairman Sébastien Bazin.

The group will now feature two main divisions, its HotelInvest sector, which will act as a property investor, while the other will be known as HotelServices, with a role of running hotels and managing brands.

Accor, known for its Ibis, Novotel and Mercure brands, has bought the 13 hotels from investment group Tritax.

“These transactions demonstrate Accor’s ability to act swiftly in implementing the strategy announced nine months ago,” said John Ozinga, COO of HotelInvest.

“It’s an important step forward in the significant restructuring that we are leading in HotelInvest, fully aligned with our objectives which include creating value by optimising return on capital employed, while strengthening our position as the largest owner of economy and midscale hotels in key European markets.”

The group's acquired portfolio, which includes 12 Ibis and one Ibis budget hotels, represents 1,194 rooms in regional locations including: Coventry, Coventry South, Birmingham Holloway Circus, Birmingham Bordesley, Leicester City, Plymouth, Sheffield City Shude, Liverpool, Manchester Princess Street, as well as London Stratford, London Thurrock and London Barking.

The move from Accor flies in the face of a number of its competitors, which tend to lend themselves to a strategy seeing more leases than acquisition and ownership agreements.

The entrance of Accor into UK ownership comes as international hotel operator Kempinski has announced that it will be temporarily without a presence in the UK, after mutually agreeing to end the management contract for The Stafford London, currently owned by Britannia Hospitality.
MORE NEWS
Warner Bros Discovery collaborates on upcoming Pompeii attraction
A new immersive attraction designed to transport visitors into the final hours of ancient Pompeii is preparing to open near the world-famous archaeological site in southern Italy.
Bob Rogers hands BRC to long-serving leadership team
Experience design company, BRC Imagination Arts, has completed a transition that sees founder Bob Rogers pass ownership of the business to four long-serving senior executives, while remaining actively involved with the company.
Rainer Maelzer joins Therme Group as chief entertainment officer
Rainer Maelzer, an experiential entertainment innovator, has been appointed chief entertainment officer by Therme Group.
Movie Park Germany reveals new Paramount attraction as part of its 30th anniversary celebrations
Movie Park Germany has opened a new Paramount Pictures-themed attraction as part of its 30th anniversary celebrations, using immersive storytelling and adaptive reuse to reinforce the park’s longstanding “Hollywood in Germany” positioning.
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ProSlide Technology, Inc.

A former national ski team racer, ProSlide® CEO Rick Hunter’s goal has been to integrate the smoot [more...]
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
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iPlayCo was established in 1999. [more...]
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Iconic Liverpool attraction opens door to new operators
An opportunity to reimagine one of the UK’s most recognisable towers has been formally opened by Rivington Hark, as St Johns Beacon invites operators and partners to shape its next phase. [more...]
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DIARY

 

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Tel: +44 (0)1462 431385

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