{"id":120002,"date":"2019-07-04T00:00:00","date_gmt":"2019-07-03T21:00:00","guid":{"rendered":"https:\/\/rhn.ro\/orbis-agreement-to-sell-hotel-services-business-to-accor\/"},"modified":"2026-03-27T15:44:07","modified_gmt":"2026-03-27T13:44:07","slug":"orbis-agreement-to-sell-hotel-services-business-to-accor","status":"publish","type":"post","link":"https:\/\/rhn.ro\/en\/orbis-agreement-to-sell-hotel-services-business-to-accor\/","title":{"rendered":"Orbis: Agreement to Sell Hotel Services Business to Accor"},"content":{"rendered":"<div>The Orbis hotel group has signed an agreement with Accor regarding the sale of its services business and has established the principles of a long-term management agreement between the parties for all Orbis-owned and leased hotels.<\/div>\n<div><\/div>\n<div>Following recent announcements regarding the separation of its businesses and entering negotiations with Accor for the acquisition of light assets, Orbis has signed a general, non-limiting set of clauses with Accor regarding the sale of the services business.<\/div>\n<div><\/div>\n<div>The agreement concluded between Orbis and Accor includes the conditions for selling the hotel services component once these &#8220;light assets&#8221; are separated from the rest of the group&#8217;s businesses. This will allow the takeover from Orbis of all its light assets and activities, including franchise and management contracts and any other rights related to the services side.<\/div>\n<div><\/div>\n<div>As a result of the transformation plan, Orbis and Accor will also enter into a hotel management contract through which Accor will manage all hotels currently owned and leased by Orbis.<\/div>\n<div><\/div>\n<div>The agreed purchase price for the services business amounts to approximately 1.2 billion Polish zloty, or 286 million EUR.<\/div>\n<div><\/div>\n<div>The completion of this transaction is planned for October 2019. Meanwhile, Orbis is undergoing a process of separating light assets from real estate properties and will obtain all necessary approvals.<\/div>\n<div><\/div>\n<div>Orbis is beginning a new stage of its evolution. It will remain a strong, reliable company with 72 existing hotels and another 5 under development. The value of Orbis real estate assets amounts to approximately 1.13 billion EUR.<\/div>\n<div><\/div>\n<div>In addition, Accor announced that it has begun to divest its entire stake in the share capital of Orbis.<\/div>\n<p>Source: <a href=\"http:\/\/www.accorhotels-group.com\" data-wplink-url-error=\"true\">AccorHotels<\/a><\/p>\n<h3>Frequently Asked Questions<\/h3>\n<p><strong>What is the value of the Orbis services business sale?<\/strong><\/p>\n<p>The agreed purchase price for the hotel services component is approximately 1.2 billion PLN, which is equivalent to 286 million EUR.<\/p>\n<p><strong>What happens to Orbis-owned hotels after the sale?<\/strong><\/p>\n<p>They will remain in Orbis&#8217;s ownership but will be managed by Accor under a long-term hotel management agreement.<\/p>\n<p><strong>When is the transaction between Orbis and Accor expected to close?<\/strong><\/p>\n<p>The completion of the transaction is scheduled for October 2019, following the separation of assets and obtaining all necessary approvals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Orbis hotel group has signed an agreement with Accor regarding the sale of its services business and has established the principles of a long-term management agreement between the parties for all Orbis-owned and leased hotels. Following recent announcements regarding the separation of its businesses and entering negotiations with Accor for the acquisition of light&hellip;<\/p>\n","protected":false},"author":0,"featured_media":67722,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2859],"tags":[],"thb-sponsors":[],"class_list":["post-120002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stirea-editiei-en"],"article_style_override":"","post-style":"","post_via":"","post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2020\/02\/topstory.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/120002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=120002"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/120002\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/67722"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=120002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=120002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=120002"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=120002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}