Accor buys hotel portfolios for ?284m

AccorHotels purchases three hotel asset portfolios in Europe representing 29 hotels with 3,677 rooms for a total of ?284 million.
The transactions comprise:
A portfolio acquired from AXA Investment Managers ? Real Assets acting on behalf of its clients for a total of ?56 million. The portfolio comprises 19 hotels in France (1,512 rooms) that have been operated under variable leases by AccorHotels since 2008, under the ibis budget, ibis, Novotel and Mercure brands.
A portfolio purchased from Invesco for ?152 million which comprises six hotels (1,347 rooms). Located in Germany (2), Italy (2), the Netherlands (1) and Austria (1), the hotels were operated under fixed and variable leases under the Novotel and Mercure brands.
A portfolio purchased from Deutsche AWM for ?76 million. This portfolio comprises four Novotel hotels (818 rooms) located in Madrid (2), Barcelona (1) and Seville (1), which were operated under fixed leases prior to the acquisition.
?We are on track with our roadmap and with the completion of our three-year plan to significantly increase the group?s performance,? said John Ozinga, chief operating officer of AccorHotels? HotelInvest unit.