Accor Expands Its Network in the Americas with the Addition of 17 Hotels
Accor today announced it has entered into exclusive negotiations with Royal Holiday Group to acquire 17 management agreements (3,200 keys). The portfolio includes six existing All-inclusive Resorts in Mexico (1,660 keys) to be managed by Ennismore, as well as eleven existing resorts and city hotels in Mexico, Argentina, Puerto Rico and the USA (1,540 keys) to be managed by Accor PM&E Americas.
The total consideration of $79M will be paid in phases, and all of it will go towards partially funding the $130M renovation plan of the properties within the next 30 months.
This asset-light platform with hotels strategically located in beachfront resort destinations will allow Accor to further increase its brands presence in Americas. With this addition, Accor will accelerate growth in this region, particularly in Mexico and continue developing its all-inclusive resort portfolio, which has seen a 25% CAGR on network in the last three years.
Three properties in Cancun, Cozumel and Puerto Vallarta will be reflagged as Rixos Hotels post-renovation - marking a significant milestone in the brand’s global growth with its first entry into the Americas. Three further resorts in Cancun, Acapulco, Ixtapa will remain under the existing brand. The eleven other properties will be rebranded post-renovation under either the Swissôtel, Mercure, Mercure Living or ibis styles.