Following Orbis’ decision to separate its hotel services business (franchise agreements and management contracts) and its real estate assets, Accor agreed with Orbis key terms of the planned acquisition of the services business for 1.2 billion zlotys (€286 million). The transaction will have no impact on the Group’s EBITDA or net debt, since Orbis is fully consolidated in its financial statements.
Through the transaction, the Group will take over the franchise agreements and management contracts on its 136 hotels in Central Europe. In particular, this will allow the Group to: