04/01 03:18PM
Accor acquires Mirvac Hotels. Wednesday, 4th January 2012 Accor has purchased Australian hotel group, Mirvac Hotels & Resorts and the US$254 million deal will see Accor take over the entire Mirvac-managed portfolio of 48 hotels, including two owned hotels, representing 6,101 rooms. The 48 hotels are located mainly in key cities of Australia such as Sydney, Melbourne, Brisbane and Perth, while four are in New Zealand. This transaction will take Accor's network in Australia and New Zealand to over 250 hotels and 32,500 rooms. Accor said it will pay GBP149 million for Mirvac Hotels & Resorts. Together with Singapore real-estate developer Ascendas, it will also acquire Mirvac's 49.2% stake in a fund that owns 7% of the hotels for GBP46 million. |
