Latest Atton Hoteles News
May 21, 2018
Philippi Prietocarrizosa Ferrero DU & Uría, Cariola, Díez, Pérez-Cotapos and Garrigues advised on the deal AccorHotels and Chilean group Algeciras have signed an agreement with the shareholders of Atton Hoteles in order to acquire the company. As per the agreement, AccorHotels will acquire 100% of the management Company that operates 11 Atton hotels (2,259 rooms) across Chile, Peru, Colombia and Florida, USA. Besides, AccorHotels will acquire 20% of the Property Company that owns these assets, the remaining 80% being bought by Algeciras. Atton Hoteles was founded in Chile in 2000. The hotels cater to the business travelers on the midscale and upscale segment. It has 3 hotels under development. In order to capitalize on Atton’s existing brand equity, most of these properties will be co-branded with AccorHotels brands, before being fully rebranded to Pullman, Novotel, MGallery & Mercure in the midterm. Total cash consideration for AccorHotels will be US$105m or c. €89m at current exchange rate, including €67m for the operating Company, and €22m for the 20% stake in the real estate arm, reflecting post-synergies & pipeline 2020e EV/EBITDA of respectively 10X and 9X. The transaction will have an accretive impact on Group earnings from the first year. AccorHotels will have a put option to sell its 20% in the PropCo to Algeciras after five years. This acquisition further consolidates the current footprint of AccorHotels in Latin America, where the Group has built leadership for many years, with 335 hotels operating, and 166 under development, while strengthening its presence in fast growth markets such as Chile & Peru. The transaction is subject to regulatory approvals. It should be completed during the second half of 2018. Philippi Prietocarrizosa Ferrero DU & Uría advised Inmobiliaria Algeciras Limitada with Juan Pablo Wilhelmy (Picture), José Tagle, Mario Silva and Fernanda Echavarría. Cariola, Díez, Pérez-Cotapos advised AccorHotels with Pedro Lluch, Andrea Saffie, Catalina Marisio, Alejandrina Karlezi and Kevin Hes. Garrigues advised Capital Advisors with Luis Felipe Merino Risopatrón, José Miguel Rioseco Romero, Rodrigo Fernández Robinson, Hellen Brockway, Carlos Arias, Carla Martini and Isidora San Martín.
Atton Hoteles Frequently Asked Questions (FAQ)
Where is Atton Hoteles's headquarters?
Atton Hoteles's headquarters is located at Roger de Flor 2770, Las Condes.
What is Atton Hoteles's latest funding round?
Atton Hoteles's latest funding round is Acquired.
Who are the investors of Atton Hoteles?
Investors of Atton Hoteles include AccorHotels and Algeciras.