AccorInvest, whose assets were estimated to be worth €8.2 billion at the end of the first half of 2024, has been pursuing a transformation plan involving selling off its Brazilian portfolio.
The result has been €800 million in disposals between January 2023 and December 2024, "in line with its objectives," said the hotel owner and operator at the end of November, while referring to an agreement signed with Brazilian bank BTG Pactual for the sale of its portfolio of assets in Brazil.
At the end of October, BTG Pactual explained that it had received preliminary approval from the country's antitrust regulator to acquire AccorInvest's hotel operations in Brazil for 1.7 billion reais, or $300 million.
Today, Accor announced that it had finalized the sale of this portfolio - 22 assets located in five Brazilian states - without disclosing the financial details of the operation, but specifying that it was "part of an ambitious asset management plan aimed at consolidating the Group's positioning in the budget and mid-range segments in Europe."
Following the sale of its portfolio of assets in Australia and Africa in 2021, and in Japan at the end of 2023, AccorInvest is thus accelerating the process.
At this stage, the Group says it still has a portfolio of 21 hotels in Latin America—Argentina, Chile, Colombia, Mexico and Peru— for which it is continuing to collect and analyze commercial proposals from investors.