In an effort to restructure its HotelInvest division, Accor is selling 29 hotels in Germany and the Netherlands for €234m to Event Hotel Group.
The portfolio includes two Ibis Budgets, 11 Ibises, 12 Mercures and four Novotel hotels. The majority of the hotels were acquired in June 2014 as part of the Moor Park portfolio, while an Ibis Budget in Germany and a Mercure in the Netherlands were previously owned by HotelInvest.
The transaction will take place in the third quarter of 2015. Event Hotels, one of the group’s main franchisees, owns 15 hotels in Germany under the Ibis, Ibis Styles, Mercure and Pullman brands.
