Accor has signaled over several years that it plans to become more asset-light. Bloomberg News reports that the Paris-based hotel giant is about to take more steps as its owner-operator arm sells hotels.
AccorInvest, a hotel owner
AccorInvest, a hotel owner-operator arm of Accor, is planning to sell more than $2 billion worth of hotel assets across Europe and Latin America to reduce debt and align with Accor's strategy of becoming more asset-light. The sale includes several Sofitel hotels and other properties, and the proceeds will partly be used to pay off debts. This move follows Accor's recent issuance of a hybrid bond to manage its financial obligations.
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