Accor to Sell Pullman Bercy to Host Hotels

10th July 2011 (Last Updated July 10th, 2011 18:30)

French hotel group Accor will sell its 396-room Pullman Bercy Hotel in Paris for €105m ($149m) to Host Hotels & Resorts in a joint venture with APG Strategic Real Estate Pool and an affiliate of Singaporean real estate investment fund GIC. Accor said the sale is part of its o

French hotel group Accor will sell its 396-room Pullman Bercy Hotel in Paris for €105m ($149m) to Host Hotels & Resorts in a joint venture with APG Strategic Real Estate Pool and an affiliate of Singaporean real estate investment fund GIC.

Accor said the sale is part of its ongoing asset light strategy and will continue to run the hotel under a long term management agreement.

Accor chairman and CEO Denis Hennequin said the sale confirms the company’s ability to continue pursuing its asset management programme to sell €1.2bn in hotel property assets during 2011-12.

The 19,375ft² Pullman Bercy is a modular convention centre and accommodates meetings and events.