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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
Disneyland Paris renames theme park as part of $2 billion transformation
Disneyland Paris has unveiled a new name for Walt Disney Studios Park as part of the park’s US$2 billion transformation.
UK's Royal attractions had a bumper year in 2023
Numbers from the Association of Leading Visitor Attractions, (ALVA) show that Royal attractions saw a huge increase in visitor numbers during 2023 – the coronation year of King Charles III.
Efteling to convert steam trains to electric as part of green drive
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
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COMPANY PROFILES
Holovis

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

RMA Ltd is a one-stop global company that can design, build and produce from a greenfield site upw [more...]
DJW

David & Lynn Willrich started the Company over thirty years ago, from the Audio Visual Department [more...]
Red Raion

Founded in 2014, Red Raion is the CGI studio for media-based attractions. [more...]
+ More profiles  
FEATURED SUPPLIER

Red Raion expands global presence with new Riyadh office
Red Raion, the CGI studio for media-based attractions, has announced the opening of its new office in Riyadh, Saudi Arabia. [more...]
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

18-22 May 2024

Eco Resort Network

The Ravenala Attitude Hotel, Mauritius
23-24 May 2024

European Health Prevention Day

Large Hall of the Chamber of Commerce (Erbprinzenpalais), Wiesbaden, Germany
+ More diary  
 


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Tel: +44 (0)1462 431385

©Cybertrek 2024

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