May 14, 2018 / 5:21 AM / 5 months ago

AccorHotels strikes deal to buy Chile hotel group Atton

PARIS, May 14 (Reuters) - French group AccorHotels has agreed to buy the management company behind Chile’s Atton Hoteles for around $105 million, in a deal which AccorHotels said would boost its earnings and strengthen its position in Latin America.

The Atton Hoteles deal marks the latest example of AccorHotels’ ambitious takeover plans, and follows last month’s acquisition by AccorHotels of Movenpick Hotels.

AccorHotels will acquire 100 percent of the management company that operates 11 Atton hotels across Chile, Peru, Colombia and Florida in the United States.

AccorHotels will also buy 20 percent of the property company that owns these assets, with the remaining 80 percent being bought by Chilean company Algeciras. AccorHotels will also have an option to sell its 20 percent in that property company to Algeciras after five years. (Reporting by Sudip Kar-Gupta; Editing by Stephen Coates)

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