The French hotel group announced the signing of an agreement with the subsidiary of ADIA (Abu Dhabi Investment Authority). The goal of this operation is to rebuild a portfolio of 31 Australian properties.
John Ozinga, COO HotelInvest, remarked: "“This deal is in line with our stated strategy to optimize cash flow generation, reduce earnings volatility and restructure lease contracts into owned and managed hotels. The acquisition of the economy hotels in key locations is a signal of our continued focus on supporting the Group’s growth strategy by holding a selective portfolio of profitable hotel property assets.”
For this operation, AccorHotels has strengthened its presence in Oceania where it already ranks fifth among hotel groups worldwide; this operator has 680 hotels for 130,798 rooms in Asia/Oceania. As of January 1, 2016, AccorHotels was the sixth largest hotel group worldwide with 3,995 properties for a total of 554,508 rooms, according to data published by Hospitality ON.
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