The Exchange welcomes the real estate transaction Accor

Accor announced on Tuesday a major real estate transaction with the sale of the walls of 158 hotels in its portfolio F1 representing 12,300 rooms, for a total of 272 million euros. According to his statement, Accor "continue to manage the 158 hotels under the brand hotelF1 and keep the control on price and product innovation, essential to ensure the lasting success of this brand. Former Formule 1 hotels offer room prices very low, around 33 euros. This assignment walls "was accompanied by the concurrent signing of a commercial lease for a term of 12 years, renewable six times at the initiative of Accor, a variable rent without guaranteed minimum equal to 20% of turnover ' cases on average. On the basis of 2008 revenue, the variable rent would have been 21.3 million euros, "the statement said. The transaction will enable the group, which is currently considering a demerger of its two core businesses of hotels and services, reduce its adjusted net debt of almost 187 million euros in 2009 with 130 million euros cash. It should also have a positive impact on profit before tax of around 5 million euros. At the Paris Bourse, the stock has gained 3.26% to 39.18 euros on Tuesday.