Accor sells stake in Polish hotel group for €1.1b
Accor has completed the sale of an 85.8 percent stake in Polish hotel group Orbis to AccorInvest for an amount of €1.06 billion ($1.15 billion).
The Polish group operates in six Eastern European countries (Poland, Hungary, the Czech Republic, Solvenia, Romania and Lithuania), and owns 73 hotels, including four luxury, 34 midscale and 35 economy hotels, under the Sofitel, Ibis, Novotel and Mercure brands. With the Orbis integration, AccorInvest’s portfolio now comprises more than 900 hotels and 135,000 rooms, for a total revenue in excess of €4 billion ($tk billion).
“It allows us to expand our European geographical footprint in very dynamic markets and also to strengthen our portfolio in the economic and mid-range segments. I am convinced that this integration will be a success and deliver huge potential,” said