Accor's Hotel Owner-Operator May Get More Indebted to Hedge Fund Sculptor

Key Points

• AccorInvest, created by Accor in 2017, is seeing an increase in its debt held by the hedge fund Sculptor.
• Sculptor has recently purchased about half of €270 million in loans from UniCredit SpA.
• AccorInvest aims to sell over $2 billion in hotels and extend more than $4 billion in debt maturity.

Summary

AccorInvest, a hotel owner-operator established by Accor in 2017, is experiencing a rise in debt ownership by the hedge fund Sculptor, which recently acquired a significant portion of loans from UniCredit SpA. The company plans to sell over $2 billion in hotels across Europe and Latin America and extend the maturity of over $4 billion in debt, indicating a strategic move to manage its financial obligations.