20:53 17 March 2020
AccorInvest becomes new Orbis’ strategic investor
Last December, AccorInvest announced its intention to acquire up to 100 percent of shares of touristic company Orbis by way of a public tender offer, which is now finalized. AccorInvest owns currently 98.6 percent of Orbis.
“We are thrilled to integrate Orbis which has a great portfolio of assets, long-time expertise in real estate and lodging sectors across key markets and great teams to run the business on a daily basis. Thanks to the Orbis integration, the AccorInvest portfolio now comprises more than 900 hotels and 135,000 rooms. Revenue in excess of €4 billion allows us to expand our European geographical footprint in very dynamic markets and also to strengthen our portfolio in the economic and mid-range segments,” John Ozinga, CEO of AccorInvest, said.
.The transaction completes Orbis transformation, following the acquisition by Accor of Orbis’ hotel management and franchise business last October for €286 million. Orbis with 73 hotels in 6 countries, being an asset-heavy player is fully fitting to the AccorInvest ecosystem.
(WBJ)
