AccorHotels has sold its French Polynesian resort portfolio to the Grey Investment Group.
The portfolio, which comprises the Sofitel Bora Bora Marara Beach Resort, Sofitel Bora Bora Private Island and Sofitel Moorea Ia Ora Beach Resort will continue to be managed by AccorHotels under long term management agreements.
AccorHotels said its decision to sell the portfolio was based on a strategic desire to recycle capital and focus on further investment and expansion in Europe.
“We are pleased to announce the sale of our French Polynesia hotel assets which allows us to accelerate our asset management and expansion plan to increase the Group’s performance,” said AccorHotels Chief Operating Officer – HotelInvest, ,John Orzinga.
“This deal with the Grey Investment Group highlights our continued capability to attract leading investors in the Pacific region.”
As part of the sale, the Grey Investment Group has also committed to an extensive refurbishment of the three resorts.