AccorHotels has completed its acquisition of Movenpick Hotels & Resorts

By Laura Mullan
AccorHotels has completed its acquisition of Movenpick Hotels & Resorts. The French hospitality firm purchased Movenpick for EU€482mn (US$560.3mn...

AccorHotels has completed its acquisition of Movenpick Hotels & Resorts.

The French hospitality firm purchased Movenpick for EU€482mn (US$560.3mn) earlier this year. 

Under the agreement, Movenpick’s portfolio of 84 hotels will join AccorHotels’ existing portfolio of more than 4,5000 hotels, resorts and residences.  

The Swiss firm also has an additional 42 hotels in the pipeline which are slated to open before December 2021.

SEE ALSO:

Through the purchase, AccorHotels said it plans to reinforce its current footprint in Europe, whilst also accelerating growth in key markets such as the Middle East, Africa, and the Asia-Pacific. 

“With a footprint in more than 20 countries, we strongly believe Mövenpick represents a strategic opportunity to bring synergies and new developments in key areas,” said Sebastien Bazin, CEO of AccorHotels.

“Mövenpick’s European-Swiss heritage and its combination of modernity and authenticity embodied by committed and talented teams fit perfectly with AccorHotels’ core value.

"Along with our new partners and thanks to our strengthened brand offering further enhancing the variety of experiences available to our clients, we look forward to a rewarding future together," he added.
 

Share

Featured Articles

Livestock data management platform Breedr raises £12mn

Breedr helps farmers improve their livestock productivity & sustainability. Investbridge Capital led a £12mn funding round to build better farm trading

Coca-Cola, Diginex & Reckitt tech to support supply chains

Respect for human rights is critical to good business, says Coca-Cola’s Paul Lalli, as the company joins diginexLUMEN to catch supply chain forced labour

Luxury food manufacturer Venchi on sustainable packaging

Cècile Osti, of luxury chocolate manufacturer Venchi, on Easter 2022, Sorrento lemons, sustainable packaging, natural ingredients & the pleasure of food

How has the pandemic affected sales at General Mills?

Food

Morrisons partners with Nestle in sustainability scheme

Retail

PepsiCo Launches pep+ a Strategic End-to-End Transformation

Drink