Accorhotels has announced a major expansion of its Brazilian portfolio, with an agreement to manage 26 existing properties.
The hotels are currently owned or managed by Brazilian company BHG, and will now be renovated and rebranded by the end of 2019 under Accorhotels’ family of brands including including Ibis, Ibis Styles, Ibis Budget, Mercure, Novotel, Mama Shelter, MGallery and Pullman.
The properties range from economy to midscale and upper upscale hotels, located in cities including Rio and Sao Paulo, and will add around 4,400 rooms to Accorhotels’ portfolio in Brazil.
The French hotel group is paying around €60 million for the management portfolio, with the deal expected to close in the fourth quarter of this year, subject to approval from the Brazilian antitrust authority.
Annoucing the agreement Sebastien Bazin, chairman and CEO of AccorHotels said:
“Today’s Brazil is a land of major opportunities. This transaction is a new milestone in the history of Accorhotels in this country, where we have been a firm leader for decades.
“It will bring new landmark hotels as well as an increased brand awareness across all segments. It also anchors a strong and long-term relationship with BHG, one of the largest owners of hotel real estate in Brazil, which will bring incremental growth opportunities going forward.”