Accor-Pannonia Rt, a member of the French Accor group, plans to sell five Budapest hotels and lease them back for a more than 20-year period. The five hotels - the Emke, Korona, Mercure, Metropol and one Ibis - are valued at around HUF 50bn. Accor-Pannonia has already invited bids for the hotels, Monday's Napi Gazdasag reported.
Accor plans to use the proceeds of the sales to fund its international growth, and the purchase of additional hotels in Hungary, Accor-Pannonia finance director David Sylberg told Napi Gazdasag. According to Napi, Accor-Pannonia does not plan to sell any more of its Hungarian hotels.
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