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BRIEF-Accorhotels in relaunch plan for F1 hotel brand
March 8, 2017 / 5:12 PM / 6 months ago

BRIEF-Accorhotels in relaunch plan for F1 hotel brand

March 8 (Reuters) - AccorHotels says in a statement:

* Accorhotels says selling to SNI Group (Société Nationale Immobilière - Caisse des dépôts et Consignations group), aaportfolio of 62 F1 hotels made up of 7 fully-owned hotels and 55 hotels leased from the company Silverstone.

* Accorhotels says plans to become the majority shareholder of the structure holding the remaining 102 hotel F1 assets. The deal would be carried out via a share capital increase of 51 million euros.

* This asset restructuring will finance a relaunch plan for the F1 brand, including a refurbishment program spread over three years.

Source text for Eikon: Further company coverage: (Reporting By Dominique Vidalon)

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