Acquisition cements AccorHotels footprint in Middle East, Africa and Asia-Pacific
Mövenpick Hotels & Resorts operates in 27 countries with 84 hotels (more than 20,000 rooms) and has a particularly strong presence in Europe and the Middle East. Mövenpick Hotels & Resorts also plans to open 42 additional hotels by 2021, representing almost 11,000 rooms, with significant expansion in Middle East, Africa and Asia-Pacific.
Sébastien Bazin, chairman and CEO of AccorHotels, said the Mövenpick brand complements its portfolio.
“Its European-Swiss heritage is a perfect fit with AccorHotels,” he said. “With the acquisition of Mövenpick, we are consolidating our leadership in the European market and are further accelerating our growth in emerging markets, in particular in Middle East, Africa and Asia-Pacific.
“This transaction illustrates the strategy we intend to pursue with the opening up of AccorInvest’s capital: to seize tactical opportunities to strengthen our positions and consolidate our leaderships, as well as leverage our growth.”