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September 2022, Virtual
September 29 2022, Virtual
French hotel group Accor has added 24 hotels ” representing 2,236 rooms in total ” to its UK Mercure portfolio. The properties, which are scattered throughout the UK, are currently under a short-term management contract with Scottish hotel company, Macdonald Hotels.
Macdonald sold the properties in January 2007 to Moorfield Real Estate Fund for over ”400m ($783.8m), with the agreement that Macdonald would continue to manage the hotels until a long-term agreement was signed.
Despite bidding for the contract alongside competition from Hilton, it was awarded to Accor, who will manage the properties for 20 years with a renewable period of 10 years.
”We are delighted to have formed this partnership with Accor and we look forward to optimising the operational and asset potential of these hotels together,” said Moorfield Group CEO Marc Gilbard.
”Accor is clearly a first class international operator and their skills combined with Moorfield Group”s asset and financial capabilities should ensure a successful future for all concerned.”
Mercure currently operates two hotels in the UK, the London City Bankside and the Brigstow Bristol. This latest deal adds properties in key city centres including Aberdeen, Bath, Bristol, Cardiff, Oxford, Sheffield and Winchester, to name but a few. The Accor Group also includes Sofitel, Novotel, Ibis and Etap.