In News from French hotel group Accor SA, the hoteliers announced this morning their sale of two MGallery hotels. One hotel in Germany and another in the Netherlands were sold for an estimated €44 million euros. Accor also announced leasing back the hotels in a 15 year deal with an option to renew.
Other key aspects of this deal include buyer buyer Internos Real Investors, a big time player in hotel properties in Europe, and that the deal is part of a larger asset management move by Accor aimed at slicing their debt. Also, according to Accor’s news (PDF), the transaction includes a renovation program worth some €12.4m, a big part of which comes from buyer Internos.
In other news, Accor just announced three days ago a first time Sofitel opening in Casablanca, Morocco. Sofitel Casablanca Tour Blanche, is a chic glass design of Belgian architect Patrick Guénard, a first of firsts there in Morocco’s capital. Two Mumbai hotel openings were also announced earlier on in August.