Hotel chain Accor SA, owner of the Mercure and Ibis brands, intends to spin off its investment division, specifically transforming it into a separate business.
According to Accor, once the transfer is completed, the company will have greater financial flexibility to develop new products and benefit from new growth opportunities.
“Transforming HotelInvest into a subsidiary is a new step that offers a multitude of opportunities for Accor, making it possible to attract new investors for a part of our business. This project will significantly increase the group’s available resources,” stated Sebastien Bazin, Accor CEO.
Recently, Accor adjusted the gross value of HotelInvest’s owned and leased assets, excluding the Orbis chain, to $6.6 billion, up from the $6.5 billion estimate in October.
The hotel company aims to increase its number of hotels targeting millennial tourists, including through the Jo&Joe brand and holdings in 25hours Hotels Germany and Mama Shelter France.
Source: Bursa
Frequently Asked Questions
What is Accor’s plan for HotelInvest?
Accor intends to transform its HotelInvest division into a separate subsidiary to increase financial flexibility and attract new investors.
What is the valuation of HotelInvest’s assets?
The gross value of HotelInvest’s owned and leased assets, excluding the Orbis chain, is estimated at $6.6 billion.
Which brands are part of Accor’s millennial strategy?
Accor is focusing on millennial travelers through brands like Jo&Joe, 25hours Hotels, and Mama Shelter.