As part of the implementation of its asset-light strategy, Accor announces that it has reached an agreement with Mutris – a Moroccan investment company bringing together private and institutional investors – under which Accor will, firstly, sell its 33% stake in Risma, Morocco's leading publicly listed hotel operator, to Mutris at a price of 130 dirhams per share, and secondly, sell its Risma bonds on the market.
Completion of the transaction is subject to certain regulatory approvals, with the transaction expected to close in the third quarter of 2023.
The transaction will have no impact on current contractual agreements between Accor and Risma, which remain unaffected.
By reorganizing its equity investments in Morocco, the Group is continuing the simplification of its minority holdings already in motion, with the sale of the shares held in Orbis (Poland) in 2020 and H World Group (China) in 2023. Accor is also strengthening its resources to accelerate, through AGM, its development in Morocco and to continue playing a major role in promoting and raising the profile of this destination worldwide.
Present in Morocco for 30 years, Accor is the country's leading operator of international brands with a network of 39 hotels (6,000 guest rooms), featuring brands ranging from ibis to Fairmont and including Sofitel and Mövenpick, and more than 5,000 employees, along with four hotels (700 rooms) under development.
Sébastien Bazin, Accor Chairman and CEO, said, "Morocco is a wonderful destination and a country with unique assets and an unrivalled culture of hospitality. Accor was a pioneer in the country nearly 30 years ago, and we have built strong relationships with leading partners and committed, talented teams. By simplifying our structure, we are ensuring we have additional resources to continue playing a major role and growing our business in Morocco, and promoting the country's cultural and tourist heritage".