Accor boosts ownership strategy with 13 UK hotels

Hotelinvest, operator Accor’s owner and investor business, has purchased 13 hotels across the United Kingdom for €89 million (US $117 million).

The France-based hotel group has acquired the portfolio from Tritax and said the deal is in line with its strategy to consolidate the owned hotel base whilst strengthening its economy and midscale segments.

Among the properties are 12 Ibis and 1 Ibis budget hotels, with a total of 1194 rooms in key cities, including Birmingham, Liverpool and London.

The properties have been operated under variable-rent leases by Accor since 2001, and since 2005 for Tritax, a real estate investor, on behalf of individual and private owners.

“These transactions demonstrate Accor’s ability to act swiftly in implementing the strategy announced nine months ago,” said Hotelinvest COO John Ozinga.

“It’s an important step forward in the significant restructuring that we are leading in Hotelinvest, fully aligned with our objectives which include creating value by optimising return on capital employed, while strengthening our position as the largest owner of economy and midscale hotels in key European markets.”

Accor signalled the acquisition strategy in May when it acquired 97 hotels, with12,838 rooms, across Germany and the Netherlands.