Sale of the Sofitel Paris La Défense under a €22m Sale & Management-Back agreement (France)
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Sale of the Sofitel Paris La Défense under a €22m Sale & Management-Back agreement (France)
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Category: Europe - France - Industry economy
- Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2012-12-03
As part of its asset management strategy, Accor announces the sale of the Sofitel Paris La Défense under a sale and management-back agreement, for a total value of €22m (€144,000 per room). The hotel will continue to be operated by Accor under a long-term management agreement.
The acquisition is carried out jointly by Amundi Real Estate, a leader in third-party real estate asset management, and Algonquin, a hospitality investor and asset manager, which already owns 7 hotels operated by Accor through management or franchise contracts in France and the United Kingdom.
This operation highlights once again the Group’s ability to deliver its asset management strategy, in partnership with leading investors.
Accor, the world's leading hotel operator and market leader in Europe, is present in 92 countries with nearly 3,500 hotels and 440,000 rooms. Accor's broad portfolio of hotel brands – Sofitel, Pullman, MGallery, Novotel, Suite Novotel, Mercure, Adagio, Ibis, ibis Styles, ibis budget and hotelF1 – provides an extensive offer from luxury to budget. With more than 160,000 employees in Accor brand hotels worldwide, the Group offers its clients and partners nearly 45 years of know-how and expertise.
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