December 16, 2019 / 5:34 PM / 8 months ago

BRIEF-Accor Sells 70% Of Movenpick Leased Hotels To HR Group

Dec 16 (Reuters) - Accor SA:

* SALE OF 70% OF MOVENPICK LEASED HOTELS TO HR GROUP

* PORTFOLIO OF 16 LEASED HOTEL ASSETS ACROSS GERMANY, SWITZERLAND AND NETHERLANDS

* TRANSACTION WILL REDUCE ACCOR’S DEBT BY EUR 429 MILLION

* HOTELS TO BE MANAGED BY ACCOR UNDER 20-YEAR CONTRACT

* MOVENPICK SALE CLOSING EXPECTED AROUND THE END OF Q1 2020 Source text: bit.ly/2El2jIA Further company coverage: (Gdansk Newsroom)

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