Clear
0 Selected+
Filters
Air
Luxury
Regulation
Operators
Agencies
City and finance
Destinations
Skills
Cruise
Technology

Hello! You are viewing your 1 free guest article this week


Join now for free, immediate and unlimited access to our award-winning online content. Find out more...

Join us
Already a member? Log in here

News

01 Aug 2018

BY Tom Parry

Share
TRFBLI

AccorHotels takes majority stake in 21c Museum Hotels

AccorHotels has signed an agreement to acquire 85% of luxury hotel brand 21c Museum Hotels in a deal worth $51 million.

AccorHotels headquarters edit.jpg

The boutique chain, founded in Louisville in 2006, has 11 properties open and under development across the US.

 

AccorHotels said the acquisition marked “a new step” in its strategy to become “the leading player in the luxury and lifestyle segment in North America.”

 

As part of the agreement, 21c Museum Hotels co-founders Laura Lee Brown and Steve Wilson will retain a 15% stake in the company, and “will remain closely involved in providing creative guidance” for the brand’s future strategy.

 

21c Museum Hotels will continue to be led by president and chief executive, Craig Greenberg, and retain its corporate headquarters in Louisville.

 

The transaction is expected to be completed during the third quarter of 2018.

 

21c Museum Hotels currently operates properties in Bentonville, Cincinnati, Durham, Kansas City, Lexington, Louisville, Nashville and Oklahoma City, with three more in development in Des Moines, Miami and Chicago.

 

Kevin Frid, chief operating officer, North & Central America, AccorHotels, said: “We are delighted to welcome 21c Museum Hotels as part of the AccorHotels family of brands, hence strengthening the group’s footprint in North America in a very unique and promising niche.”

Add New Comment
Please sign in to comment.
Show me more
TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: New Bridge Street House, 30-34 New Bridge Street, London EC4V 6BJ
Scroll To Top