BTN's annual answer book for business travel managers.
AccorHotels and Chilean group Algeciras have agreed to
acquire Atton Hotels from shareholders. Accor will acquire 100 percent of the
management company that operates Atton's 11 hotels, comprised of 2,259 rooms, plus
three properties under development. Atton's portfolio features properties in
Chile, Peru, Colombia and Florida. Accor also will acquire 20 percent of the
property company that owns Atton's assets, while Algeciras will purchase the
remaining 80 percent. The properties temporarily will be co-branded Atton and Accor
before transitioning purely to Accor's Pullman, Novotel, MGallery and Mercure
brands. Accor's total cash consideration for the deal is 89 million euros: 67
million for the operating company and 22 million for the property company. The
transaction is expected to close in the second half of the year.
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