COVIVIO Paris, 16 October 2015
The agreement concluded between Foncière des Régions and AccorHotels has two real estate components. The first is the extension of the term of 80 hotel leases (initially expiring in 2017 and 2018) for a further period of 12 years on the same rental terms. The renewal will extend the average term of leases on the hotel portfolio owned by Foncière des Régions and operated under the AccorHotels banner to 13.4 years.
Foncière des Régions has also undertaken to sell to HotelInvest, a subsidiary of AccorHotels, a portfolio of 43 hotels for €281 million, or approximately 20% of the group share of the Accor portfolio owned by Foncière des Régions. These transactions, which will be carried out by the end of June 2016, will be made on the basis of the current appraisal values. Half of the hotels sold are located in towns with fewer than 300,000 inhabitants.
The renewal of the partnership provides a further demonstration of the pertinence and momentum of the Foncière des Régions model, which combines innovative and tailored real estate solutions, visibility over cash flows and constant reinforcement of asset quality. By offering hotel brands all the real estate solutions they need (property investment, property and funds, development, asset management, repositioning, rotation), the group has been able to become the leading force in hotel real estate in Europe. These skills have enabled Foncière des Régions to become the real estate partner of AccorHotels, B&B Hotels, Louvre Hotels Group, NH Hotel Group, Motel One and Meininger.
Dominique Ozanne, CEO Hotels & Hospitality Management of Foncière des Régions, said: 'The continuation of the partnership with AccorHotels is great news. It perfectly validates our real estate partnership model, which allows us to provide long-term support to hotel brands by providing all the real estate solutions they need to tailor their offer to their customers' expectations and to expand in Europe'.
Contacts
Press Relations
Géraldine Lemoine Tel.: + 33 (0)1 58 97 51 00
geraldine.lemoine@fdr.fr
Investor Relations
Paul Arkwright
Tel.: + 33 (0)1 58 97 51 85
paul.arkwright@fdr.fr
Foncière des Régions, co-créateur d'histoires immobilières
As a key player in real estate, Foncière des Régions has built its growth and its portfolio on the key and characteristic value of partnership. With a total portfolio valued at €17Bn (€11Bn in group share), located in the high-growth markets of France, Germany and Italy, Foncière des Régions is now the recognised partner of companies and territories which it supports with its two-fold real estate strategy: adding value to existing urban property and designing buildings for the future.
Foncière des Régions mainly works alongside Key Accounts (Orange, Suez Environnement, EDF, Dassault Systèmes, Thales, Eiffage, etc) in the Offices market as well as being a pioneering and astute operator in the two other profitable sectors of the Residential market in Germany and Hotels in Europe.
Foncière des Régions shares are listed in the Euronext Paris A compartment (FR0000064578 - FDR), are admitted to trading on the SRD, and are included in the composition of the MSCI, SBF 120, Euronext IEIF 'SIIC France' and CAC Mid100 indices, in the 'EPRA' and 'GPR 250' benchmark European real estate indices, and in the FTSE4 Good, DJSI World and Euronext Vigeo (World 120, Eurozone 120, Europe 120 et France 20) ethical indices.
Foncière des Régions is rated BBB/Stable by Standard and Poor's. www.en.foncieredesregions.fr
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