AccorInvest to Sell More Than $2 Billion in Hotel Assets: Report

Accor has signaled over several years that it plans to become more asset-light. Bloomberg News reports that the Paris-based hotel giant is about to take more steps as its owner-operator arm sells hotels.

AccorInvest, a hotel owner-operator company created in 2017, wants to sell more than $2 billion (about €2 billion) of hotels in Europe and Latin America, sources told Bloomberg.

AccorInvest is a hotel owner and operator that, as of September, runs 753 hotels. Accor creates and manages brands and a loyalty program while offering technology and other services.

Sources told Bloomberg that AccorInvest has properties under the Sofitel brand in Paris for sale, along with five Ibis hotels in Britain, a hotel in the Netherlands, a Sofitel in central Europe, and some other properties.

The money will at least partly be used to pay off debts, Bloomberg said.

The companies didn’t comment on the report.

Earlier this month, Accor moved to help manage its debt by issuing a 5.5-year hybrid bond priced to yield 7.3%, Bloomberg noted.

UPDATE: This post has been updated to make clearer how Accor and AccorInvest are two separate companies.