As part of the disposal of
its non-strategic assets, Accor has sold GO Voyages
to Financiere Agache Investissement (Groupe Arnault) and to GO Voyages
management for 281 million euros, representing a capital gain of around 200
million euros.To continue leveraging the synergies developed over the past four years
between Accor and GO Voyages, a three-year, renewable marketing partnership
has been formed to ensure the preferred distribution of Accor hotels by GO
In 2006, GO Voyages contributed 118 million euros to Accor’s
consolidated revenue and 13 million euros to consolidated EBITDA.
The sale of GO Voyages illustrates the Group’s refocusing on its core
Hotels and Services businesses. It is part of the 500 million euros worth
of non-strategic asset disposals announced by Accor, whose proceeds will be
returned to shareholders.
Deutsche Bank acted as financial advisor to Accor in this transaction.