The latest acquisition from the French...
AccorHotels has struck a deal to buy the management company behind Chile’s Atton Hoteles for around US$105mn.
The latest acquisition from the French group hopes to boost its earnings and strengthen its position in Latin America.
Under the deal, AccorHotels will acquire 100% of the management company that operates 11 Atton hotels across Chile, Peru, Colombia and Florida, USA.
It will also acquire 20% of the property company that owns these assets, with the remaining 80% being bought by Chilean firm Algeciras.
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“We are delighted to have come to this strategic agreement with Algeciras,” said Patrick Mendes, CEO of AccorHotels for South America.
“With Atton’s portfolio, AccorHotels will strengthen its leadership position in Latin America and complement its offer to its customers and loyalty members with attractive key destinations.”
The Atton Hoteles deal is the latest acquisition by the French hotel firm.
Last month, AccorHotels bought Movenpick Hotels and Resorts for CHF560mn (US$567 million) and it also acquired a 50% stake in South African firm Mantis group.