The French hotel chain has signed a memorandum of understanding to sell 72 hotels in Germany and 19 in the Netherlands to Moor Park Real Estate.

The Novotel, Mercure, Ibis and Etap Hotel properties involved in the transaction represent a total of 12,000 rooms.

Accor will continue to operate the hotels under 12-year variable-rent leases, which are renewable six times for a total of 84 years.

As part of the agreement, a long-term development partnership will be launched to enable Accor to intensify its expansion in the respective countries. Details: www.accor.com

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