Tag Archives: Sebastien Bazin

AccorHotels acquires Mövenpick Hotels & Resorts

AccorHotels has signed an agreement with Mövenpick Holding and Kingdom Holding to acquire Mövenpick Hotels & Resorts, for an amount of CHF560 million (€482 million). Sebastien Bazin, Chairman and CEO, AccorHotels said, “With the acquisition of Mövenpick, we are consolidating our leadership in the European market and are further accelerating our growth in emerging markets, in particular in Middle East, Africa and Asia-Pacific. The Mövenpick brand is the perfect combination of modernity and authenticity and ideally complements our portfolio.” “Its European-Swiss heritage is a perfect fit with AccorHotels. By joining the Group, it will benefit from AccorHotels’ power, particularly in terms of distribution, loyalty-building and development. This transaction illustrates the strategy we intend to pursue with the opening up of AccorInvest’s capital: to seize tactical opportunities to strengthen our positions and consolidate our leaderships, as well as leverage our growth,”Bazin added. Mövenpick Hotels & Resorts will benefit from AccorHotels’ loyalty programme, distribution channels and operating systems, which will help optimise their performance. This acquisition further consolidates the current footprint in Europe and in the Middle East and accelerates growth notably in key regions where the Group has been established for many years, such as Africa and Asia. The transaction is subject to regulatory approvals. It should be completed during the second half of 2018.

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AccorHotels acquires ResDiary, a restaurant reservation platform

AccorHotels has announced its acquisition of ResDiary, a platform for table reservation at restaurants. ResDiary provides venues with a high-end table management solution, using technology that optimises their food and beverage revenues and helps control operational costs. Its yield and channel management tools help restaurateurs maximise revenues, while limiting booking fees by controlling availability displayed on third-party channels. Sébastien Bazin, Chairman and CEO, AccorHotels, said, “I am delighted to see ResDiary join the range of services of the Group. Our ambition is to support ResDiary in its global expansion, consolidating its scale, and benefitting from its expertise to provide multiple attractive offers to our guests. This acquisition completes recent investments of AccorHotels in the Food & Beverage industry. It fully supports the Group’s ambition to increase touchpoints with a fast-growing customer base.” Mike Conyers, Co-founder and CEO, ResDiary said, “We have had a very successful relationship with AccorHotels in Asia Pacific, and the ResDiary team is thrilled to join the Group. We are looking forward to expanding our service on a more global level with AccorHotels.”

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Banyan Tree & AccorHotels enter strategic partnership

Banyan Tree Holdings has entered into a long-term partnership with AccorHotels under which both parties intend to collaborate to develop and manage Banyan Tree branded hotels around the world. Banyan Tree will also have access to AccorHotels’ global reservations and sales network, as well as its loyalty programme Le Club AccorHotels. AccorHotels will invest an initial SGD 24 million (c. €16 million) in Banyan Tree and both parties will then co-develop the brands owned by Banyan Tree around the world. This investment will be made through a mandatory convertible debenture that at conversion will give AccorHotels an approximately 5% stake in Banyan Tree. AccorHotels has an option to purchase an additional approximately 5 per cent stake. Ho Kwon Ping, Executive Chairman of Banyan Tree, said, “Our strategic alliance with AccorHotels allows us to remain an independent company, enabling us to continue securing hotel management agreements on our own and yet accelerating Banyan Tree’s speed and scope of expansion but with AccorHotels helping us to grow our brands around the world. We believe this agreement will propel our brands rapidly to global reach and range and strengthen our ability to embrace change and innovation in the hospitality industry with a strong global partner.” Sebastien Bazin, CEO and Chairman of AccorHotels, said, “Our collaboration with Banyan Tree is a great opportunity to complement our business proposition to owners with iconic brands, while always better servicing our Guests. Banyan Tree Holdings has created key leading positions across Asia with luxury resorts, one of the fastest growing segments in the industry. We will bring scale to the network through our ability to develop and manage hotels under the Banyan Tree brands globally, hence strengthening …

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