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Orbis becomes Accor’s management platform for Central Europe in over EUR 142 million deal
08-01-2015 hotels/Orbis Hotel Group source: PeppeR PR
Orbis, the leading hotel group in Poland, signed with its strategic shareholder Accor the agreement on taking over of 46 hotels in Central Europe and concluded Master License Agreement. Thanks to this transaction Orbis strengthened its position as the leader of hospitality industry in Central Europe and became the sole licensor of all Accor brands in 16 countries of the region. The total price for the deal amounted to 142.3 million euros.
  Orbis acquired the current Accor network of 46 hotels in 6 countries: Bulgaria, Czech Republic, Hungary, Poland, Romania and Slovakia. All hotels operate under the Accor brands: Sofitel, Pullman, MGallery, Novotel, Mercure, ibis and ibis budget. 38 of them are operational, and 8 projects are in the pipeline, of which 3 hotels to be managed and 5 to be franchised. 76% of these hotels are located in capital cities. - Taking over of Accor's operations in Central Europe is a key milestone for Orbis. The transaction perfectly matches our strategy as we have been aiming at wider development in the region for some time now. Accor mandates us to be its management platform for this part of Europe - we see this as a great recognition for our past achievements - said Gilles Clavie, President of the Management Board of Orbis. Agreement between Orbis and Accor was concluded on January 7th 2015. On the same day, Orbis signed with Accor the Master Licence Agreement, which gives the Orbis Group a right to operate until 2035, including a minimum 10 year exclusivity, the hotel business under the Accor brands in 16 countries: Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia and Slovenia. - Entering these perspective markets gives Orbis a great opportunity for a more robust supply growth. Thanks to this transaction we will record a significant business increase - total number of our hotels will exceed 100 and we will be able to develop business in 16 countries. We will significantly strengthen our leading position as the key hotel operator in Central Europe. We are acquiring a healthy network, mainly located in capital cities. Orbis already has a great team working in international environment and having extensive understanding of Central Europe region. I am convinced that both Orbis and the entities operating in these markets will benefit from mutual cooperation – added Gilles Clavie. Orbis strategy will aim at strengthening its leading position in the region through further development, and operational excellence in its hotels. The Group will accelerate its expansion mostly through management and franchise, with an opportunistic use of ownership. As of today, the Orbis Group comprises more than 100 hotels operating in 8 countries in Central Europe.
 


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