AccorHotels has announced the purchase of three hotel asset portfolios in Europe representing 29 hotels, comprising 3,677 rooms, for a total of €284m.
The transactions are composed of:
- A portfolio acquired from AXA Investment Managers – Real Assets, acting on behalf of its clients, for a total of €56m. The portfolio comprises 19 hotels in France (1,512 rooms) that have been operated under variable leases by AccorHotels since 2008, under the ibis budget, ibis, Novotel and Mecure brands.
- A portfolio purchased from Invesco for €152m, comprising six hotels (1,347 rooms). The hotels are located in Germany (2), Italy (2), the Netherlands (1) and Austria (1), the hotels were operated under fixed and variable leases under the Novotel and Mecure brands.
- A portfolio purchased from Deutsche AWM for €76 million. This portfolio comprises four Novotel hotels (818 rooms) located in Madrid 92), Barcelona (1) and Seville (1), which are operated under fixed leases prior to the acquisition.
The transaction with Deutsche AWM was finalised in November 2015 and the two other deals are scheduled to be finalised during the first half of 2016.
