Adrien Lanotte, Senior Analyst at MKG Consulting, explained during the MasterClass of the Worldwide Hospitality Awards (2019 edition) that ' France is a good investment when the market could turn around', since it is be a ' resilient market'. Indeed, the European markets, and especially France, are very attractive for hotel investment. The latter suggests a strong increase by 2021, as the arrival of two new hotels in the capital by 2020, to operate under the Sheraton and Moxy brands, suggests.

B&B increased its offer by +6.3%, Best Western by +1.2%, InterContinental Hotel Group by +3.8%, Brit Hotel by +7.2%, and Marriott International Group by +9.5%. Chinese hotelier Jin Jiang (which acquired Louvre Hotels) reported slight organic growth of +0.3% in France in 2018. While AccorHotels remains the undisputed leader in France in 2018, as the largest owner operated under Accor group's franchises, the rise of other groups on the market is undeniable and tends to increased competition in the coming years. The appetite of foreign groups for European markets is growing. De facto on the franchisee side, this desire to move towards the most attractive, the one with the most notoriety that best corresponds to the market, the one that offers more attractive fees has also developed.ĪccorInvest's properties, which are currently operated exclusively under the Accor group's franchises until 2023, could possibly turn up to other franchisors after that date. On the franchisor side, there may be a desire to favour a better opportunity in the same market. Today, on both sides there are opportunity strategies. Indeed, as Olivier Chopin, General Manager, Les Hôtels de Bordeaux, President of the Association des investisseurs Franchisés Louvre Hotels, said in his speech at the Paris Asset Forum >hospitality, franchisees as franchisors are changing their behaviour:įive years ago, a hotelier was historically linked to a group and there were no questions asked either way. AccorInvest is thus valued at €3.9 billion (up +12.9% compared to the company's value at the time of the sale in 2018), which ' reflects the positive effects of the transformation undertaken by the leading European hotel owner'.īut this action raises the question of the future of AccorInvest. The hotel group will nevertheless retain a 30% stake in AccorInvest, which is ' the minimum threshold agreed upon at the time of the sale of AccorInvest in 2018, and runs until May 2023'. This transaction is to be completed by the end of the 2019 financial year, ' subject to the approval of the relevant competition authorities'.

Accor recently sold 5.2% of AccorInvest's share capital to several shareholders of the company (including Colony Capital), for a total value of 204 million euros.

Orbis portfolio management