Accor sells Pullman Paris Rive Gauche hotel for $100M

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.