Accor Sells GO Voyages for £281 Million

Accor has recently sold GO Voyages to Financière Agache Investissement (Groupe Arnault) and to GO Voyages management for £281 million, representing a capital gain of around £200 million. The move is part of Accor’s decision to dispose of its non-strategic assets.

“The sale of GO Voyages illustrates the Group’s refocusing on its core Hotels and Services businesses. It is part of the £500 million worth of non-strategic asset disposals announced by Accor, whose proceeds will be returned to shareholders,” stated the company. Deutsche Bank acted as financial advisor to Accor in this transaction.

To continue leveraging the synergies developed over the past four years between Accor and GO Voyages, a three-year, renewable marketing partnership has been formed to ensure the preferred distribution of Accor hotels by GO Voyages.

In 2006, GO Voyages contributed €118 million to Accor’s consolidated revenue and £13 million to consolidated EBITDA.