AccorHotels acquires Mövenpick Hotels & Resorts

AccorHotels has signed an agreement with Mövenpick Holding and Kingdom Holding to acquire Mövenpick Hotels & Resorts, for an amount of CHF560 million (€482 million).

“With the acquisition of Mövenpick, we are consolidating our leadership in the European market and are further accelerating our growth in emerging markets, in particular in Middle East, Africa and Asia-Pacific. The Mövenpick brand is the perfect combination of modernity and authenticity and ideally complements our portfolio. Its European-Swiss heritage is a perfect fit with AccorHotels. By joining the Group, it will benefit from AccorHotels’ power, particularly in terms of distribution, loyalty-building and development. This transaction illustrates the strategy we intend to pursue with the opening up of AccorInvest’s capital: to seize tactical opportunities to strengthen our positions and consolidate our leaderships, as well as leverage our growth,” said Sébastien Bazin, Chairman and CEO of AccorHotels.

Mövenpick Hotels & Resorts operates in 27 countries with 84 hotels (more than 20,000 rooms) and also plans to open 42 additional hotels by 2021, representing almost 11,000 rooms, with significant expansion in Middle East, Africa and Asia-Pacific. The acquisition further consolidates the current footprint in Europe and in the Middle East and accelerates growth notably in key regions where the Group has been established for many years, such as Africa and Asia.