Accor sells its stake in Risma in Morocco to Mutris
June 26, 2023 at 12:00 pm EDT
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Accor announces that it has reached an agreement with Mutris, a Moroccan investment company made up of private and institutional investors, under which Accor will sell its 33% stake in Risma, Morocco's leading listed hotel operator, to Mutris at a price of 130 dirhams per share, and will sell the Risma bonds it holds on the market.
The transaction is expected to be completed in the third quarter of 2023.
The transaction will have no impact on current contractual agreements between Accor and Risma, which remain unchanged, Accor adds.
By reorganizing its capital structure in Morocco, the Group is continuing the simplification of its minority interests already underway with the sale of Orbis (Poland) in 2020 and H World Group (China) in 2023.
Accor is also strengthening its resources to accelerate , through AGM, the Group's development in Morocco, and to continue to play a major role in promoting and raising the profile of this destination worldwide.
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Accor is the No. 1 European hotel group. Net sales break down by activity as follows:
- operating hotels under management contract (74.7%; HotelServices);
- owned and leased hotel management (25.3%). In addition, the group offers a business of renting luxury private residences, as well as providing digital services to independent hoteliers, concierge services, etc.
At the end of 2023, the group operates a network of 5,584 hotels (821,518 rooms) distributed primerly between luxury and top-range hotels (978 hotels; Raffles, Fairmont, Sofitel, Pullman, MGallery, Swissotel, Grand Mercure, Mövenpick, The Sebel and Rixos names), mid-range hotels (1,732; Novotel, Novotel Suites, Mercure, adagio, Mama Shlter and Tribe), and economy hotels (2,826; ibis, ibis Styles, ibis budget, adagio access, hotelF1, Formule 1, Jo&Joe, Breakfree and Greet).