ACCOR ANNOUNCES ITS INTENTION TO SPONSOR A CORPORATE SPAC TARGETING ACTIVITIES ADJACENT TO ITS CORE HOTEL BUSINESS (France)
Accor announces today its intention, subject to market conditions, to sponsor a Corporate Special Purpose Acquisition Company (SPAC), the Accor Acquisition Company (AAC), to be listed on Euronext Paris. |
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ACCOR ANNOUNCES ITS INTENTION TO SPONSOR A CORPORATE SPAC TARGETING ACTIVITIES ADJACENT TO ITS CORE HOTEL BUSINESS (France)
Accor announces today its intention, subject to market conditions, to sponsor a Corporate Special Purpose Acquisition Company (SPAC), the Accor Acquisition Company (AAC), to be listed on Euronext Paris. |
Category: Europe - France - Exclusive experiences
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This is a press release selected by our editorial committee and published online for free on 2021-05-20
AAC aims to raise approximately €300m. Accor’s investment in AAC will not be material.
Accor’s objective in creating AAC is to better serve Accor’s hotel owners and customers by providing high quality and recognizeable services and brands in any of five verticals adjacent to Accor’s core hotel business, namely:
• food and beverage;
• flexible working;
• wellness;
• entertainment & events; and
• travel technology.AAC’s target company will benefit from Accor’s network, scale and global presence.
AAC will be led by Amir Nahai (fully dedicated Managing Director) and supported by three senior Accor executives: Pierre Boisselier (CFO), Nicolas Broussaud (CIO) and Besma Boumaza (Chief Legal Officer).
Accor will continue to be single-handedly focused on delivering its Reset cost savings plan, fully capturing the market rebound and profitably growing its asset light management and franchise hotel operations.
About Accor
Accor is a world leading hospitality group consisting of more than 5,100 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry’s most diverse and fully-integrated hospitality ecosystems encompassing luxury and premium brands, midscale and economy offerings, unique lifestyle concepts, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor also boasts an unrivalled portfolio of distinctive brands and approximately 260,000 team members worldwide. Over 68 million members benefit from the company’s comprehensive loyalty program ALL - Accor Live Limitless - a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 – Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States.
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