AccorHotels has doubled down on its acquisition growth strategy this year.
“AccorHotels’ strategy is to accelerate hotel development through both organic growth and acquisition. The expansion of the AccorHotels network continues at a rapid pace, with a record 52,000 rooms opened last year,” said AccorHotel global chief development officer on the company’s website.
AccorHotels opens one hotel every 33 hours, the highest rate in the industry. Now, the hotel giant has spent $51 million acquiring an 85 percent stake in 21c Museum Hotels, a boutique luxury hotel chain in the United States.
Just this year alone, the world’s second largest hotel group acquired Movenpick Hotels and Resorts for $560 million, Mantra Group for $1.2 billion, a 50 percent stake in SBE Entertainment Group for $319 million, and table reservation system ResDiary for undisclosed sum, making their total spend on acquisitions in 2018 well over $2 billion.
In 2016, AccorHotels spent $2.1 billion buying Fairmont, Raffles, and Swissotel.
The 21c Museum Hotels brand includes eight properties in the United States and another three properties currently under construction, all of which will be reintroduced under the MGallery brand.
