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AccorHotels' takeover of Atton Hoteles approved [update]

The French group continues its series of acquisitions with a new one: Atton Hoteles, approved by the Fiscalía Nacional Económica de Chile

Thanks to funds obtained from the sale of AccorInvest, the group is focusing on acquisitions, most recently that of Mantra Group, Mantis (50%), Mövenpick Hotels & Resorts and now Atton Hoteles.

The brand was founded in Chile in 2000 and targets business travellers in the middle and upscale segments.

AccorHotels and the Chilean group Algeciras have therefore reached an agreement with the shareholders of Atton Hoteles to acquire the company. The French group will acquire 100% of the management company operating the 11 Atton hotels, i.e. 2,259 rooms located in Chile, Peru, Colombia and Florida. The operation will strengthen AccorHotels' portfolio in Latin America.

Three new addresses will soon be added to the 11 hotels already in operation. These properties will first be co-branded and transferred to Pullman, Novotel, MGallery or Mercure in the medium term.

Accor will also acquire 20% of the real estate company holding these assets.

The total acquisition cost amounts to approximately 89 million euros divided between the operating company (67 million euros) and the 20% stake in the real estate company (22 million euros).

Patrick Mendes, CEO of AccorHotels for South America stated: “We are delighted to have come to this strategic agreement with Algeciras. With Atton’s portfolio, AccorHotels will strengthen its leadership position in Latin America and complement its offer to its customers and loyalty members with attractive key destinations.”   

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