Stibbe advises Accor on Moor Park Real Estate transaction

05/03/2007

Moor Park Real Estate, the UK-located real estate group, will invest in 72 Germany-located and 19 Netherlands-located hotels of Accor, the French group, for EUR 863 million.

Accor announced that the hotels involved in the deal are Novotel, Mercure, Ibis and Etap. Accor will lease back the hotels for up to 84 years after a EUR 43 million costing renovation of the hotels. The investor will pay insurance, taxes and maintenance while Accor will pay a rent of 18% of the average revenues of the hotels.

Stibbe advised Accor on this transaction.