French multinational hotel group acquires Mövenpick Hotels & Resorts for €482 million

Aspiring residents cough up between Sh210,000 - Sh230,000 per month for a one bedroom and Sh250,000 - Sh280,000 for the two bedroom apartments at the 5-star hotel.

AccorHotels, a French multinational hotel group has signed an agreement to acquire a 100.0% stake of Mövenpick Hotels & Resorts.

The French hotel with footprint in 100 countries paid (€482 million) to acquire Mövenpick Hotels & Resorts.

“With the acquisition of Mövenpick, we are consolidating our leadership in the European market and are further accelerating our growth in emerging markets, in particular in Middle East, Africa and Asia-Pacific. The Mövenpick brand is the perfect combination of modernity and authenticity and ideally complements our portfolio. Its European-Swiss heritage is a perfect fit with AccorHotels.  By joining the Group, it will benefit from AccorHotels’ power, particularly in terms of distribution, loyalty-building and development. This transaction illustrates the strategy we intend to pursue with the opening up of AccorInvest’s capital: to seize tactical opportunities to strengthen our positions and consolidate our leaderships, as well as leverage our growth,” Sébastien Bazin, Chairman and CEO of AccorHotels, said.

Founded in 1973 in Switzerland, Mövenpick Hotels & Resorts operates in 27 countries with 84 hotels (more than 20,000 rooms) and a particularly strong presence in Europe and the Middle East.

Over the years, Mövenpick Hotels & Resorts has also expanded its presence in Africa and currently operates a 5-star hotel in the heart of Nairobi.

Situated in Westlands, Mövenpick Hotel & Residences Nairobi offers the perfect base to explore Kenya’s capital while staying for business or leisure in 276 spacious rooms, suites and residences.

Diners can also sit in the only Kenya’s spectacular 360-degree revolving restaurant that complements two more restaurants, two bars and a lobby lounge.

What’s more, one can rent the hotel’s 276 spacious rooms, suites and residences measuring between 97 sqm to 121 sqm.

Aspiring residents cough up between Sh210,000 - Sh230,000 per month for a one bedroom and Sh250,000 - Sh280,000 for the two bedroom apartments at Mövenpick Hotel & Residences.

AccorHotels plans to open 42 additional hotels by 2021, representing almost 11,000 rooms, with significant expansion in Middle East, Africa and Asia-Pacific.

Mövenpick Hotels & Resorts is expected to benefit from AccorHotels’ loyalty program, distribution channels and operating systems, which will help optimize their performance.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke