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AccorHotels buys 29 hotels in Europe for 284 mln eur

Reuters - UK Focus

PARIS, Dec 1 (Reuters) - Europe's largest hotel group, AccorHotels, said on Tuesday that it bought three hotel asset portfolios from European investors for 284 million euros ($300.6 million).

AccorHotels said it bought 19 hotels from AXA Investment Managers for 56 million euros, six from Invesco (NYSE: IVZ - news) for 152 million and four from Deutsche AWM for 76 million.

The latter deal was closed on Nov. 27, with the rest due to be finalised in the first half of 2016.

"We are on track with our roadmap and with the completion of our three-year plan to significantly increase (the) group's performance," said John Ozinga, chief operating officer of AccorHotel's HotelInvest unit. ($1 = 0.9447 euros) (Reporting by Maya Nikolaeva; Editing by James Regan)