AccorInvest advances transformation with sale of Brazilian resort portfolio
2 min studying time
Published on 04/12/24, Updated on 16 hours ago
AccorInvest, has accomplished the sale of its Brazilian resort portfolio to BTG Pactual, a Brazilian investment bank. This transaction is a gigantic step in AccorInvest’s broader asset management understanding, which aims to refine its portfolio and beef up its position within the economy and mid-scale resort segments, primarily in Europe.
AccorInvest’s ongoing transformation understanding
Since 2021, AccorInvest has been executing a metamorphosis approach obsessed on streamlining its asset portfolio. The aim is to concentrate on high-performing, predominantly owned property within the economy and mid-scale segments, primarily in Europe.
The sale of the Brazilian portfolio follows identical transactions in thoroughly different markets, including in Australia and Africa in 2021 and Japan on the end of 2023.
The Brazilian portfolio includes 22 resort properties positioned all the map by five states in Brazil. These property have now been transferred to BTG Pactual, marking a key milestone in AccorInvest’s ongoing transformation route of. With this transaction, AccorInvest continues to own a portfolio of 21 hotels spread all the map by Argentina, Chile, Colombia, Mexico, and Peru.
“We wished to minimize our debt, which is why we drew up an asset disposal understanding, announced on the starting of 2023. This understanding covered €1.7 billion of property to be sold. In Europe, we concentrated our disposals on leased hotels, with the aim of strengthening our freehold portfolio. The classes learned from four years of disaster have led us to exit markets equivalent to Africa, Australia and Japan. In the arrival days, we are able to moreover be announcing our exit from the Brazilian market. This has enthusiastic a substantial quantity of labor, each by preparation and execution. We’re in fact coming into an acceleration phase.” – Gilles Clavie, CEO of AccorInvest, on the Hospitality Asset Forum, held on 28 November on the InterContinental Paris – Le Sizable
Commitment to ESG requirements
In selecting BTG Pactual as the purchaser, AccorInvest ensured that the transaction aligns with its dedication to Environmental, Social, and Governance (ESG) criteria. This partnership aims to make certain a relaxed transition and persevered operation of the hotels below the contemporary possession.
Following the completion of the Brazilian sale, AccorInvest will proceed to take into consideration and take into consideration doable investment proposals for its remaining Latin American property. The firm’s focus remains on refining its portfolio and maximizing the price of its property, whereas asserting a sturdy presence in key European markets.
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