Accor Hotels Group sells 19.4% of its TAHL stake for 46 million euros

Accor Hotels Group sells 19.4% of its TAHL stake for 46 million euros

Accor Hotels, the world’s biggest hospitality group, said it has sold 19.4% of its stake in the Tourism Asset Holdings Ltd (TAHL) to the Abu Dhabi Investment Authority (ADIA) for a value of 46 million euros, and a repayment of 53 million euros’ loans.

Few details of the deal were available by the time of going to press, but the Paris-based hotels group said in a statement that the sale formed part of its asset management strategy.

TAHL is Australia’s largest hotel company, owning 31 hotels in Australia (4 097 rooms), all of which are operated by Accor through lease or management contracts under the ibis, ibis budget, ibis Styles, Mercure, Novotel and Pullman brands.

All contracts will be maintained, Accor insisted.

Accor, which operates close to 117 000 rooms (116 hotels) in 18 African countries, is also planning to build 5000 rooms more in Africa in the next four years.

Meanwhile the group has announced the opening of its 100th Novotel hotel in the Asia Pacific.
Thailand’s Novotel Phuket Kamala Beach Resort, which boasts unobstructed views of the azure Andaman Sea, is located on the idyllic island off the west coast.

It has 166 rooms, suites and villas, as well as a lush garden, Accor revealed, adding that its three restaurants and bars, fitness centre, spa and swimming pool will delight travellers in search of relaxation.

The hotel is ideally located, just a 10-minute walk from the epicenter of the Phuket scene: Patong Beach.

Novotel has 400 hotels in 60 countries across the world.

Photo: A room in the new Novotel room in Thailand. Accor has sold 19% of its TAHL stake

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