Accor announced its expansion to Australia and New Zealand with the acquisition of Mirvac Hotels and Resorts, which will add 48 properties to the group’s portfolio.
As a result of the transaction, all 48 Mirvac properties will fall under Accor’s umbrella and may then be integrated into one of Accor’s several mid to upscale brands: Sofitel, Pullman, MGallery, Novotel or Mercure, although, this decision is still under review.
The hotels that Accor will obtain as part of this transaction are all located in key cities across Australia, including Sydney, Melbourne, Brisbane and Perth, while four of the 48 properties are located in key destinations within New Zealand, including Auckland.
The deal is expected to be complete in the first half of 2012, once the parties involved receive regulatory approvals.
“This agreement is an important step for Accor in Australia and New Zealand, 20 years after our debut in these countries. It offers strong synergies with our existing businesses and further enhances our already leading position,” said Michael Issenberg, chief operating officer of Accor Asia-Pacific.