AccorHotels is on the acquisition trail again, as it is in negotiations to purchase French event company, Potel & Chabot Group.
The French hotel group is working with private equity firm, Edmond de Rothschild Investment, to acquire the company.
Under the deal Edmond de Rothschild Investment Partners (acting on behalf of private equity fund FPCI WINCH Capital 3) will hold 51% of the share capital and AccorHotels 40%.
Potel & Chabot Group, a two-century-old company, has sales of about €100 million (US$105 million), AccorHotels said when announcing the negotiations.
The group has two brands – the luxury Potel & Chabot and premium Saint Clair le Traiteur. They host B2B activities that include receptions for corporate and private clients; major sporting, industrial and cultural events (such as the French Open at Roland Garros, 24 Hours of Le Mans the Biennale des Antiquaires and the Saut Hermès); and manages venues in Paris such as Pavillon Vendôme, Pavillon Seine and Pavillon Kléber.
Potel & Chabot hosts numerous events like the French Open. (Image credit: m-gucci/iStock)
It is expanding in France and has offices in the UK, Switzerland, the Middle East, China and Brazil.
When the deal goes through AccorHotels, together Potel & Chabot Group, plans to jointly develop innovative and sophisticated F&B offers for MICE (Meetings, Incentives, Conferences and Events) guests in hotels or private rentals), as well as for a local clientele, by making use of personalised concierge services.
This purchase will add to AccorHotels acquisitions in the past few months that included a 5% stake in Singapore-based Banyan Tree Holdings, 50% stake of Turkey-based chain Rixos Hotels in a joint venture, concierge deal with John Paul, as well as beginning ‘exclusive negotiations’ for the purchase of private vacation rental platform Travel Keys.
Potel & Chabot is the luxury brand of the group.
“This new alliance with AccorHotels, a world leader in hospitality, its hotel infrastructures throughout the world and its digital concierge services will allow us to strengthen our leadership in the luxury sector and enhance the expertise of our talents, notably by sharing it through the creation of a ‘Potel & Chabot Academy’”, said Franck Jeantet, chairman and CEO of Potel & Chabot .
Sven Boinet, deputy chief executive officer of AccorHotels, added: “The partnership of AccorHotels with Potel & Chabot brings a complementary dimension and expertise to our F&B and event organisation strategy.
“Moreover, the combination of their knowledge with our leading positions in luxury hospitality, private rental and concierge services will provide our clients with unique services and expertise regarding tailor-made events.”
The proposed transaction is currently under specific review by the competition authority, and must be submitted for the consultation of employee representative bodies.
• Featured image credit: Potel & Chabot Group
