AccorHotels’ acquisition trail has made its next stop in South America.
The French hospitality giant has agreed a deal to purchase Chile based Atton Hoteles, which operates 11 Atton hotels across Chile, Peru, Colombia and Florida.
AccorHotels will also acquire a 20% stake in the property company that owns these hotels with management investment group Algeciras taking the remaining 80%.
Atton has another three hotels in development.
Its portfolio caters to business travelers in the midscale and upscale segment.
"We are delighted to have come to this strategic agreement with Algeciras. With Atton’s portfolio, AccorHotels will strengthen its leadership position in Latin America and complement its offer to its customers and loyalty members with attractive key destinations," said Patrick Mendes, CEO of AccorHotels, South America.
AccorHotels expects the deal to be finalized in the second half of 2018.
It has more than 500 hotels open or under development in Latin America.
The Atton hotels will eventually be rebranded to Accor brands such as Pullman, Novotel, MGallery and Mercure.
