Upscale Hotels Asset Management Strategy
Upscale Hotels Asset Management Strategy
Upscale Hotels Asset Management Strategy
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An initial major transaction in March 2005<br />
with Foncière des Régions<br />
�Long term partnership with a consortium led by "Foncière des<br />
Régions" which includes Assurances du Crédit Mutuel, Generali,<br />
Predica (Groupe Crédit Agricole)<br />
�128 hotels in France (16,714 rooms): Novotel, Mercure and Ibis<br />
�Value: €1,025 million<br />
�Variable rents set at 15.5 % of revenues with no minimum<br />
guaranteed<br />
�Duration: 12 years, renewable 4 times per hotel at Accor’s discretion<br />
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