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Accor sells its TAHL holding stake
Monday, 04 Nov, 2013
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Accor continues to trim its hotel assets.
It is selling its 19.4% stake in the Tourism Asset Holdings Ltd (TAHL), Australia’s largest hotel owning company, to the Abu Dhabi Investment Authority for a value of A$66 million, and a repayment of A$76 million loans.
TAHL owns 31 hotels in Australia (4,097 rooms), all of which are operated by Accor through lease or management contracts under the ibis, ibis budget, ibis Styles, Mercure, Novotel and Pullman brands.
In a statement, Accor said all contracts would be maintained.
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