PARIS—As previously announced in April, AccorHotels has completed the acquisition of Mövenpick Hotels & Resorts. The Enterprise Value (EV) represents $577.4 million and encompasses 100% of Mövenpick company’s share capital, as well as ownership of the Mövenpick brand for all activities related to the hospitality business.
The transaction illustrates AccorHotels’ ambition to seize tactical opportunities to strengthen its positions and consolidate its leadership, as well as to leverage growth, according to the company. As an asset-light business, the acquisition of Mövenpick is perfectly aligned with AccorHotels’ strategy.
Comprising 84 properties with more than 20,000 rooms and 42 signed pipeline hotels to be opened before December 2021, the Mövenpick network consolidates AccorHotels’ footprint in Europe and Asia while accelerating growth in Africa and the Middle East, where Mövenpick enjoys significant brand awareness.
“With a footprint in more than 20 countries, we strongly believe Mövenpick represents a strategic opportunity to bring synergies and new developments in key areas,” said Sébastien Bazin, chairman/CEO of AccorHotels. “Mövenpick’s European-Swiss heritage and its combination of modernity and authenticity embodied by committed and talented teams fit perfectly with AccorHotels’ core value. Along with our new partners and thanks to our strengthened brand offering further enhancing the variety of experiences available to our clients, we look forward to a rewarding future together.”