AccorInvest, has completed the sale of its Brazilian hotel portfolio to BTG Pactual, a Brazilian investment bank. This transaction is a significant step in AccorInvest’s broader asset management plan, which aims to refine its portfolio and strengthen its position in the economy and mid-scale hotel segments, primarily in Europe.
AccorInvest’s ongoing transformation plan
Since 2021, AccorInvest has been executing a transformation strategy focused on streamlining its asset portfolio. The goal is to concentrate on high-performing, predominantly owned assets in the economy and mid-scale segments, mainly in Europe.
The sale of the Brazilian portfolio follows similar transactions in other markets, including in Australia and Africa in 2021 and Japan at the end of 2023.
The Brazilian portfolio consists of 22 hotel properties located across five states in Brazil. These assets have now been transferred to BTG Pactual, marking a key milestone in AccorInvest’s ongoing transformation process. With this transaction, AccorInvest continues to own a portfolio of 21 hotels spread across Argentina, Chile, Colombia, Mexico, and Peru.
“We needed to reduce our debt, which is why we drew up an asset disposal plan, announced at the beginning of 2023. This plan covered €1.7 billion of assets to be sold. In Europe, we concentrated our disposals on leased hotels, with the aim of strengthening our freehold portfolio. The lessons learned from four years of crisis have led us to exit markets such as Africa, Australia and Japan. In the coming days, we will also be announcing our exit from the Brazilian market. This has involved a considerable amount of work, both in terms of preparation and execution. We are now entering an acceleration phase.” – Gilles Clavie, CEO of AccorInvest, at the Hospitality Asset Forum, held on 28 November at the InterContinental Paris – Le Grand
Commitment to ESG standards
In selecting BTG Pactual as the buyer, AccorInvest ensured that the transaction aligns with its commitment to Environmental, Social, and Governance (ESG) criteria. This partnership aims to ensure a smooth transition and continued operation of the hotels under the new ownership.
Following the completion of the Brazilian sale, AccorInvest will continue to evaluate and consider potential investment proposals for its remaining Latin American assets. The company’s focus remains on refining its portfolio and maximizing the value of its assets, while maintaining a strong presence in key European markets.
