AccorHotels Set To Acquire 100 Percent Stake in Movenpick Hotels

By Juma Fred / May 15, 2018

AccorHotels

AccorHotels, a French multinational hotel group, which operates in 95 countries, signed an agreement with Mövenpick Holding and Kingdom Holding to acquire a 100 percent stake of Mövenpick Hotels & Resorts for 560.0 million Swiss Francs (USD 558.3 million).

According to their statement, the enterprise value of 560.0 million Swiss Francs implies a multiple of 14.9x expected 2019 EBITDA of USD 37.5 million.

Mövenpick Hotels & Resorts is a hotel management company headquartered in Baar, Switzerland. It is currently owned by Mövenpick Holding who has a stake of 66.7 percent and the Saudi based Kingdom Group who have a stake of 33.3 percent.

Mövenpick Hotels & Resorts operates in 27 countries with 84 hotels, approximately 20,000 rooms and a particularly strong presence in Europe and the Middle East. In Africa, Mövenpick Hotels & Resorts operates 24 hotels in 5 countries; 16 Hotels in Egypt, 3 Hotels in Tunisia, 3 Hotels in Morocco, 1 Hotel in Ghana and 1 Hotel in Kenya.

The Mövenpick Hotel & Residences Nairobi is located in Westlands. They have focused their growth in Europe, The Middle East, Africa and Asia. They plan to open 42 additional hotels by 2021, adding a further 11,000 rooms to its portfolio, with 5 new hotel developments in Africa; 2 in Egypt, 1 in Cote d’Ivoire, 1 in Ethiopia, and 1 in Nigeria.

The acquisition is important for both parties, as it will accelerate AccorHotels growth in emerging markets particularly in the Middle East, Africa, and the Asia Pacific. Mövenpick Hotels & Resorts will benefit from AccorHotels’ loyalty program, distribution channels, and operating systems, which will help optimize their performance.



About Juma Fred

Juma Fredrick is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. You can reach him on: (020) 528 0222 or Email: [email protected]

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