Accor is continuing on the sale path and asset-light operating model. A
day after word came it would sell its Novotel Times Square property in
New York, today the news is that the French hotel operator has sold the
Pullman Paris Rive Gauche hotel to French construction group Bouygues
Immobilier for $100 million. According to Fox Business News, Accor
decided to sell the hotel due to lacking performance that fell below the
company's requirements. Accor also said that the contract includes an
earn-out mechanism, whose amount depends on the terms and conditions of
Bouygues' reconstruction project.
17 hours ago
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