In (yet another) acquisition, the French hotel group Accor has agreed to buy Swiss group Movenpick for CHF 560m.
Movenpick runs 84 hotels with another 42 under development.
Whilst it is almost certain that the brand will become part of Le Club AccorHotels, this is likely to take 18 months or so as IT systems are aligned.
Raffles, Fairmont and Swissotel will not be fully integrated into Le Club AccorHotels until this July, almost two years after they were acquired.
The Battuta Gate property in Dubai is pictured above.
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