http://t0.gstatic.com/images?q=tbn:ANd9GcS5YHCOgn9Pg-gez9I1qR45wx65HRye898fF501JT67VgzPv1M7Accor Hotels will bring international distribution to Mirvac’s 48 Australian and New Zealand properties after acquiring the business for 195 million Euros.
The purchase adds more than 6000 rooms to Accor’s portfolio with the deal in line with its plans to open 40,000 rooms annually in 2012 and 2013.
Mirvac had 44 Australian hotels, mainly in key cities, and four in New Zealand.
The majority of the 48 will be “aligned with Accor’s upscale and midscale brands. Some may be rebranded.
Accor Asia Pacific chairman and chief executive Michael Issenberg said it was important for the Mirvac hotels to “underpin their futures with a robust international platform”.
“Accor’s investment in the Mirvac hotels will provide the resources to deal with the next phase of evolution in the hotel industry,” he said. “This includes getting greater access to the most important emerging markets such as China and India where Accor is already an industry leader, as well as maximising the potential of distribution, branding, loyalty, purchasing and employee development.”