AccorHotels to Buy Atton Hoteles
Parisian hotelier partners with Chile’s Algeciras on $105M acquisition
AccorHotels and Chilean management company Algeciras have signed an agreement to acquire Atton Hoteles, which operates 11 properties across Chile, Peru, Colombia and Florida. AccorHotels will also purchase 20% of the investment company that owns the portfolio, while Algeciras will buy the remaining 80%. The $105 million transaction is expected to be completed during the second half of this year.
Founded in Chile in 2000, Atton Hoteles caters to business travelers in the midscale and upscale segment. The company currently has three hotels under development. In order to capitalize on Atton’s existing brand equity, most of these properties will be cobranded with AccorHotels flags before being rebranded to Pullman, Novotel, MGallery and Mercure in the midterm, according to the French hotel group.
This acquisition follows AccorHotels’ recent purchase of Mövenpick Hotels & Resorts and further consolidates the hotelier’s current footprint in Latin America with 335 hotels in operation and 166 under development.
Patrick Mendes, ceo of AccorHotels for South America, says: “With Atton’s portfolio, AccorHotels will strengthen its leadership position in Latin America and complement its offer to its customers and loyalty members with attractive key destinations.”