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AccorHotels closes CHF560M acquisition of Mövenpick hotel brand

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AccorHotels closes CHF560M acquisition of Mövenpick hotel brand

French hotelier AccorHotels finalized the acquisition of Mövenpick Hotels & Resorts at an enterprise value of CHF560 million.

The company signed a deal with Mövenpick Holding and Kingdom Holding in April for the purchase.

The transaction involved the purchase of 100% of the share capital of the target company and the ownership of the Mövenpick brand for activities associated with the hospitality business.

Mövenpick holds over 20,000 rooms across 84 properties in 27 countries and has a signed pipeline of 42 hotels, which are slated to open before December 2021.