AccorHotels acquires Swiss Mövenpick Hotels & Resorts, adds 84 hotels

AccorHotels has been in the news these days either for acquiring or investing in another hotel operator, buying out a concierge service or a hospitality digital-service provider.

AccorHotels

Last month, AccorHotels acquired Switzerland-based hotel group, Mövenpick Hotels & Resorts for €482 million Euros. Founded in 1973, Mövenpick Hotels & Resorts currently operates 84 hotels in 27 countries and offers a room inventory of more than 20,000 rooms. The Mövenpick brand already has a strong presence in Europe and the Middle East and plans to open another 42 hotels by 2021 with a focus on expanding in the Middle East, Africa and Asia-Pacific.

Mövenpick Hotels & Resorts will be integrated into AccorHotels’ loyalty program, and the chain will benefit from Accor’s distribution channels and operating systems.

So far, Accor has spent close to €600 million over the last four years, buying accommodation providers or investing in various startups. In 2016, the company made its most significant purchase when it acquired hotels under the Fairmont, Raffles, and Swissotel brands for 2.7 billion US Dollars. Last year, AccorHotels bought Onefinestay, a luxury vacation rental company, made a 49% investment in a French high-end vacation rental platform named Squarebreak and has invested 30%  in Oasis, a Miami-based lodging platform.

To make its mark in the luxury accommodation space, the company has also formed a strategic partnership with Banyan Tree and made a 5% investment in the Asia-based group.

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