AccorHotels Acquires Mövenpick in €482m Deal
Accorhotels has acquired Movenpick Hotels and Resorts in a €482 million deal, adding 84 properties to the group’s portfolio.
The acquisition allows customers staying at a Mövenpick Hotel or Resort to benefit from AccorHotels’ loyalty program, distribution channels and operating systems.
Commenting on the deal, Sébastien Bazin, chairman of AccorHotels, said: “With the acquisition of Mövenpick, we are consolidating our leadership in the European market and are further accelerating our growth in emerging markets, in particular in Middle East, Africa and Asia-Pacific.
“The Mövenpick brand is the perfect combination of modernity and authenticity and ideally complements our portfolio. Its European-Swiss heritage is a perfect fit with AccorHotels. By joining the group, it will benefit from AccorHotels’ power, particularly in terms of distribution, loyalty-building and development.
“This transaction illustrates the strategy we intend to pursue with the opening up of AccorInvest’s capital: to seize tactical opportunities to strengthen our positions and consolidate our leaderships, as well as leverage our growth.”
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