PARIS—Accor says itsHotelInvest business has agreed to purchase tworeal-estate portfolios representing 86 and 11hotels respectively (12,838 rooms) for a totalconsideration of about $1.23 billion (€900M).
The sellers are two funds, Moor Park Fund I andII, advised by Moor Park Capital Partners, a pan-Europeanreal estate private equity investment advisory business.
“These transactions send a strong signal of our capability torapidly implement the strategy of restructuring the HotelInvestportfolio,” said Sébastien Bazin, chairman and CEOof Accor. “They are fully aligned with our selective assetacquisition criteria: hotels located in key European cities anddelivering excellent operating performance in our most profitablemarket segments”.
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