Accor Pushes Further Into Luxury With $567 Million Mövenpick Deal

Patrick Whyte

April 30th, 2018 at 6:59 AM EDT

Photo Credit: Sébastien Bazin, CEO of AccorHotels Group, speaking at Skift Forum Europe in Berlin, Germany on April 26, 2018. Skift / Tim Keweritsch

Skift Take

Where there is smoke there is fire and Sebastien Bazin's comments at Skift Forum Europe last week hinted at an imminent deal.

AccorHotels has confirmed an all-cash deal to buy Mövenpick Hotels & Resorts for $567 million (€482 million) in a move to further expand its luxury portfolio. Rumors of the potential acquisition surfaced at the end of last week but CEO Sebastien Bazin was unable to confirm things during an appearance at Skift Forum Europe last week. Mövenpick has 84 hotels in 27 countries with a particularly strong presence in Europe and the Middle East. Swiss-base

Hotel coverage is exclusive for Skift Pro subscribers.

Subscribe for full access to all Skift coverage for as low as $55 a month.
See the latest hotel headlines.

BEST VALUE

BILLED ANNUALLY

$495 per year

BILLED MONTHLY

$55 per month

($660/year)

CONTINUE

Already a subscriber? Login

Skift Take

Share

Hotel coverage is exclusive for Skift Pro subscribers.

BILLED ANNUALLY

BILLED MONTHLY