The French hotel group invited the Polish operator Orbis to buy 46 of its properties in the region for 142 million euros.
Accor is reorganizing its presence in Central Europe. In keeping with this strategy it offered its portfolio of 46 properties in the region to Orbis, the number-one hotel operator in Poland for 124 million euros.
The hotels are operational and under development (8 properties), located mostly in Hungary, Poland, the Czech Republic and Romania, and 76% of these are in capitals. All the hotels in the portfolio are currently operated or being developed under brands in the Accor group (Sofitel, Pullman, MGallery, Novotel, Mercure, ibis and ibis Budget), 11 owned (1,974 rooms), 17 leased (3,573 rooms), 11 managed (1,685 rooms) and 7 franchised (821 rooms).
According to the terms of agreement offered, Orbis would also have the option to develop all the Accor brands in the region. This exclusive offer formulated by the French group is valid until November 30, 2014 and the Management Board of Orbis will have to decide on the matter.
"We have been analyzing the possibilities of development through acquisitions for some time now. Additionally, Orbis is well represented in many key cities in Poland and a a business segment of our operations is to a great extent saturated. Therefore the proposal of acquiring hotel operations from Accor in those countries is in line with our strategy," explains Gilles Clavie, president of Orbis's Management Board.
Orbis Group currently comprises 68 hotels operating in 32 destinations in Poland, Lithuania and Latvia. The Polish group already made the acquisition of Hekon hotels from the Accor group in 2003 and is the partner of the French group for its development in Poland, Lithuania and Latvia. Buying the 46 hotels from Accor would allow it to reach a portfolio of more than 110 hotels in Central Europe.
Also read:
Accor buys 97 hotels in Europe
Axa Real Estate sells 11 hotels in Switzerland
Accor acquires 13 hotels in the United Kingdom and posts solid results for the first semester 2014
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