Just weeks after news of the hotel group negotiating the purchase of Potel & Chabot, AccorHotels is now in talks with FCDE (Fonds de Consolidation et de Développement des Entreprises) to acquire all the latter’s unspecified minority interest in French events and catering company Groupe Noctis.
FCDE had invested 11 million euros (US$12.2 million) in Group Noctis over 2013 and 2014 to help it roll out its events business, in particular through acquisitions. Over the past four years, it was reported to have grown revenue by 250 per cent.
Established the company in 2008, Group Noctis has a collection of exclusive venues in France and abroad, and has signed agreements to open about 10 new venues in Paris.
Through this strategic partnership, AccorHotels hopes to cement its leadership in the City of Lights, a prominent events destination, while Noctis will be able to tap into AccorHotels’ hospitality expertise for business clients, both companies said in a statement.
Laurent de Gourcuff, Groupe Noctis chairman, CEO and founder said: “Now we’re starting a new, decisive chapter in our story, with AccorHotels’ investment in our equity. It’s the best partner to team up with to push ahead with our bold development plans, and we’ll be able to share a group’s expertise in serving upscale customers and extract synergies with their various business lines.”
Sébastien Bazin, chairman and CEO, AccorHotels, stressed that Groupe Noctis represents “more than an enviable address book”.
He said: “This alliance blends naturally into our plans to transform and boost AccorHotels with a view to catering to increasingly discerning customers’ wants and needs beyond the travel universe. Its expertise and ours complement each other, and pooling our assets will put us in a position to tap into growth opportunities and synergies in France and beyond.”
