Accor's $275M Hotel Group Buy Boosts Presence In Brazil

Law360, New York (July 16, 2012, 5:05 PM EDT) -- French hospitality giant Accor SA will pay $275 million for the South American hotel business of Mexico's Grupo Posadas SA de CV, placing itself squarely in front of Brazil's tourism boom and continuing to pursue growth in emerging markets as Europe lags.

The portfolio includes 15 hotels, totaling 2,600 rooms, in travel centers like Rio de Janeiro and Santiago, Chile. It also includes a pipeline of 14 hotels under management contract as well as two brands operated by Grupo Posadas in South America, Ceasar Park and...
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