Founded in 1973 in Switzerland, Movenpick operates in 27 countries with 84 hotels, with and a particularly strong presence in Europe and the Middle East.
The brand also plans to open 42 additional hotels by 2021, with significant expansion in Middle East, Africa and Asia Pacific.
Sebastien Bazin, chairman and chief executive of AccorHotels, said: “With the acquisition of Movenpick, we are consolidating our leadership in the European market and are further accelerating our growth in emerging markets.
“The Movenpick brand is the perfect combination of modernity and authenticity and ideally complements our portfolio. Its European-Swiss heritage is a perfect fit with AccorHotels.
“By joining the group, it will benefit from AccorHotels’ power, particularly in terms of distribution, loyalty-building and development.
“This transaction illustrates the strategy we intend to pursue with the opening up of AccorInvest’s capital: to seize tactical opportunities to strengthen our positions and consolidate our leaderships, as well as leverage our growth.”
Movenpick will join up with AccorHotels’ loyalty program, distribution channels and operating systems.
The transaction is subject to regulatory approvals and is expected to be completed during the second half of 2018.
