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AccorHotels Reports Purchase Of A Portfolio Of 43 Hotels

Accor Group (ACRFY.PK,ACRFF.PK) Friday reported the purchase of a portfolio of 43 hotels, with 4,237 rooms, from Foncière des Régions, for a total of 281 million euros.

Located in France, the hotels have been operated under variable leases by AccorHotels since 2005 and 2007, under the ibis budget, ibis, Novotel, Mercure, Pullman and Sofitel brands.

The deal is scheduled to be finalized in the first half of 2016. The agreement includes a substitution clause for the buyer, enabling HotelInvest to immediately integrate these hotels into its dynamic asset management program.

Further, considering the solid performance achieved by the 80 other hotels
owned by Foncière des Régions, HotelInvest is committing to renew their lease
agreements for 12 years, at the end of their respective terms.

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