Accor sells 10.8% of its Lifestyle division

Hotel News Now offers a weekly roundup of news from a different region of the world. This week’s compilation covers Europe.

A consortium of Qatari investors has agreed to acquire a 10.8% interest in French hotel company Accor, which gives the entire lifestyle division a nominal transaction value of approximately 200 million euros ($211 million).

The deal is expected to close by the end of 2022. In a recent video interview with HNN, Sharan Pasrichafounder and co-CEO of Ennismore, said the division has 14 brands, 100 hotels in operation and around 200 assets under development.

Radisson Hotel Group, based in Brussels, has agreed to sell its entire Americas portfolio to Choice Hotels International for approximately $675 million, a deal that will add to ChoiceThe portfolio of 624 hotels and more than 68,000 rooms.

The transaction will be financed by a combination of cash and borrowings from an existing credit facility. Radisson CEO Federico González says his company is committed to expanding the reach of its global operations and doubling its portfolio in markets across Europe, the Middle East, Africa and Asia-Pacific. by 2025.

Portuguese owner and operator Discovery Hotel Management has formed a new brand, Octant, of eight of its 18 properties.

Luís Mexia Alves, CEO of Discovery, said the brand’s offerings, which has a total of 515 rooms in Portugal, will consist of “24-hour swimming pools, 24-hour gyms… the possibility of s save and go. at no set time, use all hotel facilities at any time and indeed enjoy breakfast at any time of the day.”

Executives from Whitbread PLC, speaking at his call for first quarter 2022 results, said Continued interest in UK stays has boosted bookings and revenue at its Premier Inn properties, the country’s largest hotel brand.

Hemant Patel, CEO of the company, said that year-over-year, the company’s hosting revenue in the first quarter was 31% higher than pre-pandemic figures across its portfolio and 21.3% higher than pre-pandemic figures in the UK.

In other Whitbread news, the company has announced its new CEO as Dominic Paul, succeeding Alison Brittain who announced her retirement as the company’s current financial year ends.

The hospitality company said Paul will start in early January 2023. This is a comeback for the former CEO of Domino’s Pizza Group, UK & Ireland, as he was CEO of the former Whitbread Costa Coffee division when he was sold to Coca-Cola in August 2018 for £3.9 billion ($5.1 billion).

  • German owner Primestar Group will open its first international hotel when in 2024 it launches the 358-room Hampton by Hilton Vienna City West, the brand’s largest in Europe;
  • French hotel company Experimental Group has acquired the 27-room Le Garage and the adjacent 72-room Regina in Biarritz, France, the first two assets it acquired with its latest fund, which raised €350 million ($375 million). .5 million);
  • Cycas Hospitality has taken over management of the 161-room Bankside Hotel in London’s South Bank district. The hotel, purchased by Vertiq Capital this month, is part of Marriott International’s Autograph Collection;
  • Accor will open its third hotel in Croatia with the nationwide launch of its Mövenpick brand. Opened on June 8 in the Croatian capital, the Mövenpick Zagreb has 104 rooms and is owned by MMPD, which will also open a second hotel of this brand in Split, Croatia, in 2024;
  • Scandic Hotels Group and owner Pandox AB, both Swedish, have agreed to extend the leases of 12 hotels in Sweden, two hotels in Norway and another in Finland, which total 3,598 rooms;
  • Rosewood Hotels & Resorts is manage the Hotel Bauer in Venice when it reopens in 2025 following a renovation that will begin in November. Owned by Signa Prime Selection, the Grand Canal Hotel, which opened in 1880, is expected to have around 110 rooms once the renovation is complete.
  • Bespoke Hotels, based in Warrington, England, has purchased the three hotels formerly owned and operated by Scottish group McMillan Hotels. The assets, all in Scotland and owned by the McMillan family for over 60 years, are the 72-room McMillan Hotel North West Castle, Stanraer; 56 bedroom Cally Palace Hotel & Golf Course, Gatehouse of Fleet; and 36-room Fernhill Hotel, Portpatrick;
  • IHG Hotels & Resorts will enter Albania with the opening in 2025 of the InterContinental Tirana, which belongs to the Geci group. In the Albanian capital, the franchised assets will have around 300 rooms;
  • Accor launched its Pullman brand in Georgia with the opening of the 220-room Pullman Tbilisi Axis Towers, the tallest building in the country’s capital. The hotel spans the buildings from the 19th to the 35th floor.

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