A PYMNTS Company

Brazil: AccorHotels snaps up 26 hotels from BHG

By  |  March 7, 2017

French hotel chain AccorHotels has bought the operation licenses for 26 hotels around Brazil, previously administered by the Brazil Hospitality Group (BHG), in an exchange involving 200 million Reals ($64.5 million USD).

The move will raise Accor’s hotel count in Brazil to 278, confirming them as leaders in the largest market in South America and making Brazil the company’s fourth largest market, after France, Germany and the UK. BHG, whose main shareholders are the GP Investments and GTIS Partners investment funds, will keep 20 units and 3,700 rooms, remaining the largest owner of hotel assets in Brazil and its third largest operator.

The companies have calculated the operation will be finalised by the end of 2017, as it still requires approval from the country’s competition watchdog, CADE.

Full Content: El Diario

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.