AccorHotels purchases Moevenpick Hotels & Resorts For $567 Million

As it stated in French hotel group AccorHotels reported which it has acquired Switzerland-based Moevenpick Hotels & Resorts for $567 mn (CFH560 million). The acquisition helps Accor strengthen its footprint in the Middle East & Europe & extend its presence in Africa & Asia. AccorHotels operates further than 4,300 properties including hotels, residences & resorts & 10,000 private homes around the globe. It plans to further extend into the Middle East, Africa & Asia-Pacific by opening 42 extra hotels representing 11,000 rooms by 2021. Meanwhile Al Ghurair Properties, the property Growth arm of Dubai-based conglomerate Al Ghurair partnered by Swissôtel—an AccorHotels brand—to launch Swissôtel Al Ghurair & Swissôtel Living in Dubai in the same month.


AccorHotels purchases Mövenpick Hotels & Resorts for £412m

AccorHotels is paying 560m Swiss francs (£412m) in cash to acquire Mövenpick Hotels & Resorts, in a move that strengthens the buyer's upmarket portfolio. The Mövenpick portfolio comprises 84 hotels, that means it going to add less than two per cent to AccorHotel's existing register of 4,300 properties. It is well represented in North Africa & the Middle East, & operates some Nile cruise ships. Mövenpick Hotels & Resorts too plans to unlock 42 extra hotels by 2021, representing nearly 11,000 rooms, by significant expansion in Middle East, Africa & Asia-Pacific. AccorHotels is the Paris-based parent of Ibis, Novotel & Sofitel, & further soon acquired FRHI, bringing the Fairmont, Raffles & Swissotel brands.

AccorHotels buys Mövenpick Hotels and Resorts for £412m

Castle Resorts and Hotels opens The ISO hotel in Kauai, Hawaii

as mentioned in Castle Resorts & Hotels officially released its newest property on Kauai. Ocean., the 79-room hotel offers a private, oceanfront retreat on the island's Royal Coconut Coast. The ISO is the just property on Kauai's east shore which sits on the ocean's edge without any form of separation. "We're excited to launch The ISO as Kauai's newest boutique hotel," Alan Mattson, president & COO of citadel Resorts & Hotels, said in a statement. Castle Resorts & Hotels was founded in 1993 & is a wholly owned subsidiary of The citadel Group.






collected by :Frank Ithan

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