Polish hotel chain Orbis recently signed the purchase of 46 Accor hotels in the region, including 7 in Romania. The deal was worth some €142.3 million. The value of the Romanian portfolio was not announced. The deal had been initially announced in the fall of 2014.
Orbis acquired Accor’s network of 46 hotels in 6 countries: Bulgaria, Czech Republic, Hungary, Poland, Romania and Slovakia. 38 of them are operational, and 8 projects are in the pipeline, 3 of which to be managed and 5 to be franchised, according to the Polish group.
The recent deal also included a master license agreement, which allows Orbis to operate hotels under the Accor brands in 16 countries, until 2035. The deal includes a 10-year minimum exclusivity. Orbis is controlled by Accor itself.
With this deal, Orbis runs 100 hotels in the region, and operates in 8 countries. The Accor hotels taken over via this deal operate under the brands Sofitel, Pullman, MGallery, Novotel, Mercure, ibis, ibis Styles and ibis budget. In Romania, a Pullman hotel, a Novotel hotel, four Ibis, and a recently opened Mercure are currently operational.