301 hotels and 45,150 rooms opened
Sale of an additional 7% stake in AccorInvest for €250m
Full-year 2018 EBITDA target between €690 million and €720 million
Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels, said:
"The first half of 2018 saw AccorHotels continue the deep-seated transformation of its business model, with the sale of a majority stake in the capital of AccorInvest, the integration of Mantra in Australia and Mantis in South Africa, and the acquisition of Gekko in France. The second half of the year will see Mövenpick in Middle East, Atton in South America and sbe in the US join our network, enabling us to consolidate our market shares and the vast array of choices we offer our customers. The Group’s strong operating performance delivered solid results in first-half 2018 and record organic growth with the opening of 20,000 rooms over the period. Today, AccorHotels operates more than 4,500 hotels and 650,000 rooms around the world, the majority of which are located outside Europe. Underpinned by a reinforced pipeline, the Group’s strong prospects mean it is firmly on track to achieving its medium-term targets."
Highlights of the period:
AccorInvest
Sale of 57.8% of the capital of AccorInvest to sovereign wealth funds Public Investment Fund (PIF) and GIC, institutional investors Colony NorthStar, Crédit Agricole Assurances and Amundi, and other private investors
HotelServices
- Signature of a strategic agreement to acquire a 50% stake in Mantis Group, a South African hospitality and travel conglomerate
- Signature of a memorandum of understanding with Ctrip to offer the best possible experience to Chinese travelers
- Signature of an agreement with Mövenpick Holding and Kingdom Holding to acquire Mövenpick Hotels & Resorts, for €482 million
- Signature of an agreement between AccorHotels, Algeciras and the shareholders of Atton Hoteles for the acquisition of Atton Hoteles
- Acquisition of the Mantra Group for €830 million
- Creation of a strategic partnership with Dalmata Hospitality, France’s leading independent hotel management company in the Economy segment
- Signature of a letter of intent with sbe Entertainment and entry into exclusive negotiations to acquire a 50% stake in the company
New Businesses
- Acquisition of ResDiary, a leading platform for restaurant reservation and table management
- Acquisition of Adoria, a SaaS platform that enables the catering industry to optimize supply management
