Search

×

Paris Pullman sold for €77 million

On Thursday Accor, Courcouronnes, France announced the sale of the 617-room Pullman Paris Rive Gauche to real estate developer Bouygues Immobilier, Paris for €77 million (US$99.3 million).

The hotel, whose operating performance and technical standards fall below Accor’s group requirements, will shut down in 2012. The contract also includes an earn-out mechanism, whose amount will depend on the terms and conditions of the reconstruction project.

The sale follow Accor’s asset-light strategy, the ultimate goal of which is to reduce the corporation’s net debt by €2.2 billion (US$2.8 billion) by 2015.

Pullman Paris Rive Gauche is to be shut down this year.
Pullman Paris Rive Gauche is to be shut down this year.
Comment