AccorHotels and Rixos Hotels have announced a strategic partnership illustrating AccorHotels’ strategy to expand its presence in the luxury market. The group is seeking to develop a primary focus on developing global activities in the resort segment.
AccorHotels announces it has signed an agreement with Brazil Hospitality Group and its shareholders, funds managed by GP Investments and GTIS Partners, in order to take over the management of 26 hotels currently owned or managed by BHG, the third-largest hotel company in Brazil.
AccorHotels is engaged in a process to transform itself from a traditional hotel company into an all-encompassing hospitality organisation. As he visits London to bring investors up to date on progress, Breaking Travel News editor Chris O’Toole sits down with chief executive Sébastien Bazin to find out more.
AccorHotels has reported financial results for 2016, revealing an 8.1 per cent increase in net profits to €266 million when compared to the previous year.
The board of AccorHotels has unanimously co-opted Nicolas Sarkozy as an independent director. He will serve the organisation for the remainder of Moussalem Moussalem’s, with the former director having stepped down following Colony Capital’s decision to sell its shareholding in Accor.
AccorHotels has made a new signing at London Stansted Airport. The Novotel London Stansted has been signed under a franchise agreement and will be operated by Arora Hotels a division of the Arora Group which acquired the property in 2016. At the same time, London Stansted’s complimentary Wi-Fi service has been extended so passengers can now enjoy up to four hours free of charge as part of the airport’s on-going customer service improvement programme.
AccorHotels today successfully set the terms of a seven year bond issue for an amount of €600 million with an annual coupon of 1.25 per cent. AccorHotels took advantage of the favourable conditions on the credit market to optimise its average cost of funding and lengthen the average maturity of its debt.
As part of the process for the contemplated sale of a majority of HotelInvest – known as Booster project - AccorHotels has entered into discussions with potential investors. In this context, the group has disclosed the updated gross asset value of the Booster Portfolio as of December 31st.
AccorHotels has confirmed the creation of a lifestyle division to be headed by Cédric Gobilliard. The appointment will be effective from February 2017. Gobilliard will report directly to Sébastien Bazin, chairman and chief executive of AccorHotels.