Accor hotel chain sells twelve thousand rooms

One of Europe's largest hotel company, the French Accor, sells its 158 hotels with 12,300 rooms to compatriot institutional investors, through OPCI real estate fund. The purchase price is 272 million euros.

Accor will continue the tenancy and the operation of the buildings, as 12-year lease was signed, which can be renewable for six times. The rental fee will be the 20 percent of the income and guaranteed minimum amount has not been included in the contract. On the base of the 2008 results, the rental income can be 21.3 million euros.. Thanks to the transaction, Accor will be able to repay its significant debts – reports portfolio.hu. after PropertyEU.