AccorHotels has signed an agreement to acquire 85 percent of 21c Museum Hotels for $51 million.
21c combines a multi-venue contemporary art museum, boutique hotels and chef-driven restaurants, with 11 properties currently open and under development across the United States.
Co-founders Laura Lee Brown and Steve Wilson will retain a 15 percent stake in the company, and they will remain closely involved in providing creative guidance and support of the unique combination of art, design and hospitality that defines the 21c experience. 21c Museum Hotels will continue to be led by Craig Greenberg, president and CEO. Corporate headquarters for 21c will remain in Louisville, Ken.
The transaction should be completed during the third quarter of 2018.
AccorHotels has been actively buying and se
