AccorHotels sells 57.8% of the capital of AccorInvest

For AccorHotels, the transaction results in a gross liquidity contribution of 4,600 million euros, a little more than the 4,400 million euros announced in February and in line with the highest percentage of capital finally sold.

AccorHotels, therefore, will have 42.2% of the capital of AccorInvest, which will no longer be included in the Group's consolidated financial statements as of June 1, 2018. As part of the transaction, AccorHotels and AccorInvest will maintain their relationship close and durable through long-term partnership contracts.

Sébastien Bazin, President and CEO of AccorHotels, said: "Upon completion of the sale of nearly 58% of AccorInvest's capital, we successfully completed the transformation process started five years ago. The agreement allows us to further accelerate the development of AccorHotels, concentrating our resources and energy in strengthening our portfolio of brands and our leading position in the main markets and in the search for our strategy of providing innovation and excellence to our guests and Hotel owners partners. With our new structure, mainly of minor assets, we will be able to implement our ambitious and disruptive vision of "increased hospitality" to the fullest. "

John Ozinga, CEO of AccorInvest, said: "Today is the beginning of a new chapter for AccorInvest. With more resources and fully committed teams, we are now going to accelerate the consolidation of our portfolio, the renewal and repositioning of our assets and the development of new projects. Based on the strength of Accor's brands, we intend to consolidate our position as the leading hotel investor in Europe, increasing the attractiveness and value of our hotel portfolio".