Accor has had a busy quarter of deals. The Paris-based hotel company has agreed to sell 16 Mövenpick Hotels & Resorts hotel leases, located in Germany, Switzerland and the Netherlands, including three hotels in the pipeline, to HR Group, a German private fund. The properties will be managed by Accor under a 20-year contract. The move will result in a 429 million euro reduction of Accor's consolidated debt. The company also announced it is selling its 85.8 percent stake in Orbis to AccorInvest for 1.06 billion euros. Accor acquired Mövenpick in 2018 and the Poland-based Orbis earlier this year. Earlier this month, the company also sold half its stake in China's Huazhu Group and in November sold a 5.2 percent stake in AccorInvest for 204 million euros.
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