View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
July 31, 2011

Accor to Sell Paris Sofitel to Private Investors

French hotel group Accor is to sell its 135-room Sofitel Arc de Triomphe in Paris, France, to a consortium of French private investors for €44m. Accor said the sale will be made under a sale and management back arrangement based on an enterprise value of €69m. The

By cms admin

French hotel group Accor is to sell its 135-room Sofitel Arc de Triomphe in Paris, France, to a consortium of French private investors for €44m.

Accor said the sale will be made under a sale and management back arrangement based on an enterprise value of €69m.

The Sofitel Arc de Triomphe, which will be run by Accor under a long-term management agreement, is to undergo renovation work by the buyer for an additional €25m.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU