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KHC announces successful completion of the transaction to integrate Mövenpick Hotels & Resorts into AccorHotels

5th September 2018

Kingdom Holding Company (KHC) announced that on 3 September 2018, together with its partners, it successfully completed the sale of Mövenpick Hotels & Resorts (MHR) to AccorHotels (where KHC is also an investor). This transaction had previously been announced on 30 April 2018 following the signature of contracts.

Kingdom Hotels (Europe) LLC, a wholly owned subsidiary of KHC, held a 33.3% equity interest in MHR, prior to completion of the transaction.

The transaction was concluded on the basis of an enterprise value for MHR of CHF560 million.