Accor continues to simplify its balance sheet by selling its residual stake in H World Group Limited (Huazhu)
Accor announces that it has completed the sale of its residual stake in H World Group Limited (formerly known as Huazhu Group Limited) for $460 million. This transaction finalizes the value creation of the investment initiated in 2016. The cumulative disposal value since 2019 has reached $1.2 billion, compared to an initial investment of less than $200 million.
- DISPOSAL OF 3.3% OF H WORLD GROUP LIMITED FOR A TOTAL AMOUNT OF $460 MILLION
- CUMULATIVE DISPOSAL VALUE SINCE 2019 OF $1.2 BILLION COMPARED TO AN INITIAL INVESTMENT OF LESS THAN $200 MILLION
- CONTINUATION OF OPERATIONAL PARTNERSHIP FOR THE DEVELOPMENT OF ACCOR BRANDS IN CHINA
Accor announces that it has completed the sale of its residual stake in H World Group Limited (formerly known as Huazhu Group Limited) for $460 million. This transaction finalizes the value creation of the investment initiated in 2016. The cumulative disposal value since 2019 has reached $1.2 billion, compared to an initial investment of less than $200 million. This contributes to the “asset-light” strategy of simplifying the Group's balance sheet. Following this transaction, Accor no longer holds any shares in the capital of H World Group Limited.
Accor and H World Group Limited are continuing their fruitful partnership and the growth momentum initiated in 2016. The master-franchise agreement has enabled the opening of 450 budget and midscale hotels in China, mainly under the ibis, Novotel and Mercury. 190 additional hotel openings currently in the pipeline are planned over the next 3 years.