AccorInvest has Completed the Acquisition of Portfolio of 4 Assets

Main Photo: The Pullman Madrid Airport Feria

Date: July 2019

Location: Paris, Lisbon, Madrid and Brussels

Name: The Novotel Paris Centre Gare Montparnasse, Sofitel Lisboa Liberdade, Pullman Madrid Airport Feria and Mercure Brussels Airport.

No. of Keys: 199, 163, 179 and 120 – 661

Seller: These assets were thus far under lease from its strategic partners Crédit Agricole Assurances and Amundi Immobilier acting as Asset Manager and were two of the major investors in AccorInvest when AccorHotels sold 57.8% of AccorInvest in 2018.

Buyer: AccorInvest. These acquisitions are accompanied by ambitious renovation programmes that are part of AccorInvest’s strategy of re-positioning and creating value.

“This operation is part of our strategy of acquiring the walls of the hotels that we operate in the main European capitals and thus fully benefit from the creation of value that we deliver through hotel operations and our ambitious renovation programs” explains Arnaud Beaulieu, AccorInvest Chief Investment Officer.

“Beyond a selective renovation policy, AccorInvest is pursuing an active acquisition strategy and seeking to strengthen itself in Europe in the economic and mid-range segments.” he adds.

Each hotel is to undergo renovation.

Price: Undisclosed

THPT Comment: Nice little addition of these four hotels to AccorInvest’s portfolio.

First Seen: AccorInvest website

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