Hotel operator Accor has completed the sale of 158 hotels, operating under its budget brand hotelF1, to a consortium of French investors through a property investment trust.
The €272m (£249.4m, US$396.2m) deal will see the group continue to operate the French properties under the hotelF1 brand as part of a 12-year leaseback agreement, which involves 12,300 bedrooms.
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