PARIS, France—Accor announced it has entered into exclusive negotiations with Royal Holiday Group to acquire 17 management agreements (3,200 keys). The portfolio includes six existing all-inclusive resorts in Mexico (1,660 keys) to be managed by Ennismore, as well as eleven existing resorts and city hotels in Mexico, Argentina, Puerto Rico, and the United States (1,540 keys) to be managed by Accor PM&E Americas. The total consideration of $79 million will be paid in phases, and all of it will go towards partially funding the $130M renovation plan of the properties within the next 30 months.
This asset-light platform with hotels strategically located in beachfront resort destinations will allow Accor to further increase its brands’ presence in the Americas. With this addition, Accor will accelerate growth in this region, particularly in Mexico, and continue developing its all-inclusive resort portfolio.
Three properties in Cancun, Cozumel, and Puerto Vallarta will be reflagged as Rixos Hotels post-renovation, marking a significant milestone in the brand’s global growth with its first entry into the Americas. Three further resorts in Cancun, Acapulco, and Ixtapa will remain under the existing brand. The eleven other properties will be rebranded post-renovation under either the Swissôtel, Mercure, Mercure Living, or ibis styles.
Thomas Dubaere, CEO Americas Accor said, “This is an incredible opportunity for Accor to expand its Premium Midscale & Economy brands in new destinations throughout the region. This addition represents a significant milestone for us, and we are committed to supporting and enriching the local communities where our resorts are located, fostering strong relationships and contributing to their sustainable development. Together with our new partners, we look forward to creating unforgettable experiences for our guests and driving positive impact in these vibrant destinations.”
Gaurav Bhushan, co-CEO of Ennismore, added, “Since Rixos joined Accor in 2017, it has more than tripled its network, reinforcing its position as a global leader in the luxury all-inclusive space, with dynamic growth across the Middle East, Egypt, and Turkey. This strategic acquisition marks Rixos’ bold entry into the Americas — a pivotal move into one of the world’s most promising all-inclusive markets. As Ennismore accelerates the global expansion of its all-inclusive portfolio, the addition of these six resorts to our collective will significantly enhance our reach into the midscale segment, unlocking new avenues for growth in key destinations worldwide.”
The deal is expected to close in the second semester of the year, following customary regulatory authorizations, including antitrust approval, for this type of acquisition.
