Yahoo Finance Accor Nears Deal to Buy Luxury Hotel Brand Habitas
(Bloomberg) -- Accor SA is in advanced talks to acquire luxury hotel brand Habitas, which traces its roots to camps at the Burning Man festival in the Nevada desert, according to people with knowledge of the matter.
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The Paris-based hotelier is set to acquire Habitas through its majority-owned subsidiary Ennismore, said one of the people, all of whom asked not to be identified to discuss confidential information. A transaction value couldn’t immediately be learned.
An Accor representative declined to comment on behalf of both Accor and Ennismore. A Habitas representative declined to comment.
Habitas, led by chief executive officer and co-founder Oliver Ripley, has a manifesto on its website saying it believes in spaces “where like-minded souls can connect.”
The hotel brand — which operates luxury properties in Mexico, Namibia and Morocco, among other countries — has been growing rapidly in Saudi Arabia, following an initial investment by the nation’s Public Investment Fund in 2022.
Read More: Saudi Arabia Plans $400 Million Expansion of Habitas Hotels
Ennismore, which operates the Hoxton, Mama Shelter and Mondrian hotel chains, among others, is seeking to raise capital for a US expansion in a deal that may value it at $3 billion or more, Bloomberg News reported last month.
Read More: Hoxton Hotels Owner Ennismore Said to Seek Capital for Expansion
Hotel operators have recently sought to broaden their brand portfolios to attract a wider customer base. Earlier this year, Hilton Worldwide Holdings Inc. said it had agreed to buy Graduate Hotels and a majority controlling interest in Sydell Group, to expand the NoMad brand.
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