The Fee Generator

Berlin. "It's almost a perfect deal and mix", AccorHotels CEO Sébastien Bazin said happily, referring to the divestment of 55% of AccorInvest. He made this statement a week after the transaction, whilst on a stop off at the IHIF in Berlin. There, relaxed and content, he told three German journalists how he intends to apply the EUR 4.4 billion which has recently flooded into his coffers and under which deals the powerful funds are allowed to move forward. The transaction has not turned AccorHotels into the world's fourth mega-OTA, but Bazin is convinced that the company is one of the "eight gorillas" moving the world in the future.

Paris. AccorHotels signed the sale of 55% of AccorInvest with a pool of French and international investors, last Tuesday. The deal will bring 4.4 billion euros in cash proceeds that the group intends to use to buy back shares, return some to shareholders and continue its acquisition strategy. With this deal, Europe biggest hotel chain loses control of its real estate business – aiming to sell as much as 70% of AccorInvest’s shares. CEO Sébastien Bazin was ecstatic about the deal.