Proving that 2018 is the year of acquisitions for Accorhotels, the French company has signed an agreement to purchase Chilean hotel chain Atton Hoteles.
The company will partner with Chilean group Algeciras on the acquisition, which includes Atton’s portfolio of 11 properties across Chile, Peru, Colombia and Florida. Another three hotels are under development.
Accorhotels will acquire 100 per cent of the management company that operates the hotels, as well as 20 per cent of the property company that owns the assets. Algeciras will purchase the other 80 per cent.
The group says the hotels will initially be co-branded with existing Accorhotels names before being fully rebranded to Pullman, Novotel, MGallery and Mercure.
Accorhotels says the Atton properties cater for business travellers in the mid and upscale sectors.
The transaction is subject to regulatory approval and is expected to be completed in the second half of this year.
This is the latest in a long line of acquisitions for Accorhotels, with the group signing agreements to purchase Swiss group Movenpick, South African company Mantis Group, Australian firm Mantra Group and Scottish restaurant reservation platform Resdiary. Last year, it bought business travel hotel reservation platform Gekko.
Earlier this year, the company sold off Accorinvest, its real estate division.