2023-06-26 17:56:21
Strategic shift for the Accor group in Morocco. As part of the implementation of its Asset Light strategy, Accor announces that it has entered into an agreement with Mutris, a Moroccan investment company made up of private and institutional investors, under the terms of which Accor sells to Mutris its 33 % in the capital of Risma, the leading hotel operator listed in Morocco at a price of 130 dirhams per share and sells the Risma bonds it holds on the market.
Completion of these divestitures is subject to certain regulatory approvals. The completion of this operation should take place during the third quarter of 2023.
The transaction will have no impact on the current contractual agreements between Accor and Risma, which remain unchanged.
By capitalistically reorganizing its presence in Morocco, the Group is continuing to simplify its minority interests already underway with the sale of Orbis (Poland) in 2020 and H World Group (China) in 2023. Accor is also strengthening its resources to accelerate through ‘AGM, the development of the Group in Morocco and continue to play a major role in the promotion and influence of this destination in the world.
Present for 30 years in Morocco, Accor is the leading operator of international brands in the country with a network of 39 hotels (6,000 rooms), brands ranging from ibis to Fairmont, via Sofitel and Mövenpick and more than 5,000 employees under brand names and 4 hotels (700 rooms) under development.
Sébastien Bazin, Chairman and CEO of Accor declared: “Morocco is a wonderful destination and a country endowed with unique assets and an unequaled culture of hospitality. Accor was a pioneer there nearly 30 years ago and we have built strong ties there with leading partners and committed and talented teams. By simplifying our organization, we are giving ourselves additional means to continue to play a major role in it, to develop ourselves there and to promote the cultural and tourist heritage of the country”.
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