The shopping spree continues at AccorHotels. After the acquisition of Moevenpick and the strategic partnership concluded with South Africa's Mantis last month, and a few weeks after receiving the green light from the Australian authorities to take over the Mantra group, the French hotel operator has announced the acquisition of the Chilean group Atton Hoteles.
For the occasion, AccorHotels has teamed up with investment holding company Algeciras, which will hold 80 % of the shares in the real estate company that owns the Chilean hotelier's 11 properties, while the French group is acquiring 20 % of the shares in this company and 100 % of the management company that operates the hotels, all for a total cost of 105 million US dollars. The transaction is expected to close in the second half of 2018.
Announced at the end of February, the opening up of the capital of property subsidiary AccorInvest and the sale of 55 % of the shares represents a gross cash injection of 4.4 billion euros. This provides the French group with a comfortable envelope for "investing in the future".seize tactical opportunities to strengthen our positions, consolidate our leaderships and leverage our growth"As Sébastien Bazin, CEO of AccorHotels, explained on the occasion of the acquisition of Moevenpick.
The 11 Atton hotels - a total of 2,259 rooms spread between Santiago, Concpcion and Vina del Mar in Chile, Lima in Peru, Bogota in Colombia and Miami, with three new openings to come - strengthen the group's position in Latin America, a region where the French hotelier already has 335 hotels in operation and another 166 in the pipeline. With a strong presence in Brazil in particular, AccorHotels is expanding its presence in two growth markets, Chile and Peru, with mid-range and top-of-the-range establishments aimed primarily at business travellers. Most of these establishments will be co-branded, before moving to the Pullman, Novotel, MGallery or Mercure brands in the medium term.
