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Accor continues its strategy of selling assets

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Published on 05/11/13 - Updated on 17/03/22

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As part of its asset management strategy, Accor announced the sale of its 19.4% stake in Tourism Asset Holdings Ltd (TAHL), the largest hotel owner in Australia, to Abu Dhabi Investment Authority (ADIA). The transaction represents a total of 66 million Australian dollars (about 46 million euro), together with a loan repayment of 76 million Australian dollars (about 53 million euro).The TAHL group currently has a portfolio of 31 hotels for 4,097 rooms, all operated by Accor via leases or management contracts under the ibis Budget, ibis, ibis Style, Mercure, Novotel and Pullman brands. All contracts will be maintained after the sale.

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