AccorHotels has signed an agreement with Mövenpick Holding and Kingdom Holding to acquire Mövenpick Hotels & Resorts, for a cash amount of CHF560 million (€482 million).
Founded in 1973 in Switzerland, Mövenpick Hotels & Resorts operates in 27 countries with 84 hotels and a particularly strong presence in Europe and the Middle East.
Mövenpick Hotels & Resorts 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 Group, which has high-end expertise in the main hotel-related services, employs more than 16,000 people worldwide.
Mövenpick Hotels & Resorts will benefit from AccorHotels’ loyalty program, distribution channels and operating systems, which will help optimize their performance.
This acquisition consolidates the footprint in Europe and the Middle East and accelerates growth in regions where it has been established for many years, such as Africa and Asia.
The transaction is subject to regulatory approvals and should be completed during the second half of 2018.
AccorHotels is a leading travel & lifestyle group offering unique experiences in more than 4,300 hotels, resorts and residences, as well as in over 10,000 of private homes around the globe.
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Wow! Stunning! Hilton seems to be taking Africa by storm. Just a couple of years back, they opened the first ever in Eswatini.
Wonderful event and topics discussed, hopefully we see the manifestations in our African airline businesses in the nearest future. Kudos to you all.
Hi, I'm Lucy. Please how do I embark on my travel/ tour business. I am newbie and help..
Prices in the Sol Torremolinos Don Pablo are the same than two weeks ago.
Good location astounding but the staffs are rude and they make me wait so long for the service. They charge me more than what is on the website and did not refund me the manager is not helping with the issue
WoW. Amazing Review. 👍
I spent the holidays here, I don't know why but during the holidays their reception smells like a piss Id rather not spend my special occasions here
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