Accorhotels has completed its €482 million acquisition of Swiss group Movenpick Hotels and Resorts.
The group announced the acquisition in April and at the time said Movenpick would join its loyalty programme and benefit from its distribution channels and operating systems.
The take-over includes Movenpick’s portfolio of 84 properties in 27 countries, with plans to open a further 42 hotels by 2021. Its future developments focus on growth in the Middle East, Africa and Asia Pacific.
Accorhotels has made several acquisitions this year after selling of its real estate arm, Accorinvest.