The Accor hotel group radically renovates Ibis economy chain starting from the brand. The rebranding envisages 3 signs: ibis, ibis Styles, which replaces the all seasons line, and ibis budget, that will cancel the Etap Hotel sign. The operation includes more than 100 thousand beds and envisages design and contemporary style modifications in the common areas.
The 85 hotels are being sold to a new, private hotel franchisee operator. The 85 hotels have an asset value of €594 million and are mostly midscale and economy hotels. The new entity will be dual owner by AccorHotels (30%) and Eurazeo (70%). The hotels are located in France, Spain, Italy, Portugal, Germany, Austria, the Netherlands, and Belgium. The 85 hotels will remain under their AccorHotels flag, but will undergo renovations estimated at €100 million, in addition to the €358 million purchase price.The sale and creation of the new company was done in order to make AccorHotels more “Asset-Medium.”