PARIS, France — AccorHotels and Chile-based Algeciras have signed an agreement to acquire Atton Hotels for approximately US$105 million.
As per the agreement, AccorHotels will acquire 100 per cent of the management company that operates 11 Atton hotels (2,259 rooms), plus three hotels under development, across Chile, Peru, Colombia and Florida. AccorHotels will also acquire 20 per cent of the Property Company that owns these assets, with the remaining 80 per cent being bought by Algeciras.
“We are delighted to have come to this strategic agreement with Algeciras,” says Patrick Mendes, CEO of AccorHotels for South America. “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.”
Atton Hotels was founded in Chile in 2000 and caters to midscale and upscale business travellers. In order to capitalize on Atton’s existing brand equity, most of these properties will be co-branded with AccorHotels brands, before being fully rebranded to Pullman, Novotel, MGallery and Mercure in the midterm.
This acquisition further consolidates the current footprint of AccorHotels in Latin America — where the group has 335 hotels in operation and 166 under development — while strengthening its presence in fast growth markets such as Chile and Peru. The transaction is expected to blose during the second half of 2018.