Lawton Oklahoma Accor Hotel
AccorHotels today announced that it has signed an agreement to acquire 21C Museum Hotels, an award-winning hotel management company that is pushing the boundaries of museum hotels around the world to create a new type of travel experience. The agreement will enable 21c Museum Hotels to leverage Accorhotels "leading global hospitality platform while retaining its expertise in managing museums and hotels.
Together we have the opportunity to grow the 21C brand, launch the MGallery in the North American market, enhance brand equity and expand the entire range of unparalleled experiences for our guests. David Lee, Executive Vice President and Chief Executive Officer of AccorHotels, will retain a 15% stake in the company and will remain responsible for the unique combination of art, design and hospitality that defines the 21C experience.
AccorHotels is one of the world's leading hotel operators and will be a key partner in the continued growth of 21C and other Accor hotel brands. The Group is also responsible for the development and operation of more than 1,000 hotels and resorts worldwide. With its global expertise in hotel management, hospitality and hospitality design and development, Acc orHotel is determined to live up to its mission of making every guest feel welcome. It is dedicated to creating unique, chef-driven restaurants that are as much a part of a community as the hotel.
The AccorHotels Solidarity Fund is a natural extension of the Group's activities and values and contributes to combating the social and financial exclusion of the most disadvantaged members of society. All 21st century exhibitions and programs are free to the public, with the exception of a limited number of special events such as the annual International Day of Charity.
The purchase price for the 85% interest is $51 million, including potential payouts. Accor SA, listed on the Euronext Paris stock exchange under the ISIN code FR0000120404, is one of the largest hotel and hotel management companies in the world. We are confident that the unique spirit of 21C will be preserved and flourish with the MGallery collection and boutique hotels, and we are delighted to welcome 21c Museum of Hotels to our portfolio, strengthening the Group's presence in North America in a very unique and promising niche, "said Jean-Pierre Drouin, CEO of Accors SA.
AccorHotels is one of the world's leading travel and lifestyle groups, offering unique experiences through its portfolio of over 1,000 hotels and hotel management services. In recent years, Accor Hotels has expanded its range of services and has become the largest hotel and hotel management company in the United States and the second largest in Europe.
The success of Louisville's flagship opened up an opportunity for expansion, and today 21C operates three hotels in Louisville, Kentucky, two in New York City and one in San Francisco. The company operates a new flagship hotel in Las Vegas, Nevada, as well as a 21c project under development in Los Angeles, California.
Inspired by the idea that art can set in motion urban revitalization, Brown and Wilson renovated the former U.S. Capitol in New York City to open the first museum hotel of the 21st century.