ADIA Buys Accor’s Stake in TAHL

Accor SA, the French hotel group, agreed to sell its 19.4% in Australia’s Tourism Asset Holdings (TAHL) for A$ 66 million and assume debts totaling A$ 76 million to the Abu Dhabi Investment Authority (ADIA). This comes after ADIA’s purchase of the majority of TAHL’s assets.

Accor is also trying to focus more on managing brands than owning hotel properties. After the deal, contracts with Accor will remain.

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