AccorHotels has signed an agreement with Mövenpick Holding and Kingdom Holding to acquire Mövenpick Hotels & Resorts for 482 million EUR.
“With the acquisition of Mövenpick, we are accelerating our growth in emerging markets, particularly in the Middle East, Africa, and Asia-Pacific,” stated Sébastien Bazin, Chairman and CEO of AccorHotels.
Founded in 1973 in Switzerland, Mövenpick Hotels & Resorts operates in 27 countries, with 84 hotels featuring over 20,000 rooms, primarily in Europe and the Middle East.
Mövenpick Hotels & Resorts plans to open an additional 42 hotels by 2021, representing nearly 11,000 rooms, with expansion in the Middle East, Africa, and Asia-Pacific.
Source: Profit
Frequently Asked Questions
How much did AccorHotels pay for Mövenpick?
AccorHotels acquired Mövenpick Hotels & Resorts for 482 million EUR.
Where does Mövenpick Hotels & Resorts operate?
The company operates 84 hotels in 27 countries, mainly across Europe and the Middle East.
What are the expansion plans for Mövenpick?
The brand aims to open 42 new hotels (approx. 11,000 rooms) by 2021 in the Middle East, Africa, and Asia-Pacific.