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The transaction is subject to regulatory approvals and is set to be completed during the second half of this year The transaction is subject to regulatory approvals and is set to be completed during the second half of this year

AccorHotels and Algeciras Agree to Buy Chilean Group Atton Hoteles

AccorHotels and Chilean group, Algeciras, an investment and management holding, announced that they signed an agreement with the shareholders of Atton Hoteles to acquire the company.

As per the agreement, AccorHotels will acquire 100 percent of the management company that operates 11 Atton hotels (2,259 rooms) across Chile, Peru, Colombia and Florida. AccorHotels will acquire 20 percent of the property company that owns these assets, the remaining 80 percent being bought by Algeciras.

Atton Hoteles was founded in Chile in 2000. Its hotels cater to business travellers on the midscale and upscale segment. It also has three hotels under development. In order to capitalise on Atton’s existing brand equity, most of these properties will be co-branded with AccorHotels brands, before being fully rebranded to Pullman, Novotel, MGallery & Mercure in the mid-term.

According to the company, this acquisition further consolidates the current footprint of AccorHotels in Latin America, where the group has built leadership for many years, with 335 hotels operating, and 166 under development, while strengthening its presence in fast growth markets such as Chile and Peru.