Mövenpick Holding today announced that it has agreed, together with its partner Kingdom Holding, to sell Mövenpick Hotels & Resorts to AccorHotels.
Mövenpick Hotels & Resorts was established in 1973 as an extension of the successful Mövenpick restaurant business. Since then, Mövenpick Hotels & Resorts has expanded its international presence and today manages more than 20,000 rooms in 84 hotels across Europe, the Middle East, Africa and Asia. With 42 additional hotels under development and to open by 2021, the group will further expand its footprint across these continents.
Sébastien Bazin, chairman and CEO of AccorHotels, gave a comment on the huge sale: “With the acquisition of Mövenpick, we are consolidating our leadership in the European market and are further accelerating our growth in emerging markets, in particular in the Middle East, Africa and Asia-Pacific.”
“We are consolidating our leadership in the European market”
AccorHotels is to pay CHF560 million (USD566 million) for Mövenpick Hotels & Resorts. The transaction is subject to regulatory approvals and should be completed in the second half of 2018.
Bazin added: “The Mövenpick brand is the perfect combination of modernity and authenticity and ideally complements our portfolio. Its European-Swiss heritage is a perfect fit with AccorHotels.” 16,000 hospitality professionals are dedicated to ensuring Mövenpick’s traditional Swiss values are always upheld.
With the integration into AccorHotels, a travel group with more than 4,300 hotels, resorts and residences operating in 100 countries, Mövenpick Hotels & Resorts will continue its success and accelerate its further growth. Mövenpick Hotels & Resorts will have access to the Accor customer loyalty program, benefit from new sales channels and will be able to increase the operational performance of its managed properties.
“This transaction illustrates the strategy we intend to pursue”
Bazin concluded: “By joining the Group, it will benefit from AccorHotels’ power, particularly in terms of distribution, loyalty-building and development. This transaction illustrates the strategy we intend to pursue with the opening up of AccorInvest’s capital: to seize tactical opportunities to strengthen our positions and consolidate our leadership, as well as leverage our growth.”
Mövenpick Holding will continue on its growth path with Mövenpick Fine Foods, Mövenpick Wein and Marché International.
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