AccorHotels has announced its intention to buy the Swiss-based Mövenpick Hotels & Resorts for 560 million Swiss Francs.
The deal is expected to completed by the second half of 2018.
Mövenpick Hotels & Resorts operate in 27 countries. The group has 84 hotels and more than 20,000 guest rooms.
The group is particularly strong in Europe and the Middle East but has no properties in the UK, although it did open a ‘new development’ office in London at the end of last year.
At the time of the acquisition Movenpick had plans to open 42 new hotels by the year 2021 expanding the group’s footprint particularly in the Middle East, Africa and Asia Pacific.
Accor, on the other hand, currently operate in 100 countries worldwide.
The group has a wide portfolio of properties with brands such as Raffles and Sofitel at the luxury end, Novotel and Mercure in the mid-market, through to the Ibis chain at the budget end of the market.
AccorHotels also recently bought a 50% stake in South Africa-based Mantis Group, which has 28 boutique hotels and game reserves.