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Accor sells stake in hotel company
Accor is selling its 19.4% stake in Tourism Asset Holdings Ltd, Australia’s largest hotel owning company.
TAHL has been bought by 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.
Report by TravelMole Asia-Pacific
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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