ACCORHOTELS AND MÖVENPICK HOTELS & RESORTS FINALIZE MERGER

Accorhotels officially closed its acquisition of Mövenpick Hotels & Resorts, becoming the largest operator by room number in the Middle East and Africa, with a committed network (operational and pipeline) of over 400 hotels. Accorhotels’ acquisition was made at an estimated value of 560 million Swiss francs (482 million euros). Following the merger, Accorhotels appointed Mark Willis as CEO, Accorhotels Middle East and Africa. Olivier Granet embarks on a new project to drive sustainable development in Africa with Accorhotels, while Olivier Chavy resigned from his role as CEO and president of Mövenpick Hotels & Resorts.