Saudi Arabia’s sovereign wealth fund named Public Investment Fund is in talks to buy a 15% stake in Accor SA’s property business in a transaction that could value the unit at about US $7.64 billion. This information came when Accor, Europe’s biggest hotel operator, is selling some assets in developed markets as it seeks to expand in emerging economies and acquire new brands. Meanwhile, Mövenpick Hotels & Resorts has announced to grow its footprint in Asia’s secondary destinations, noting a shift in demand from the international market.

Le Mövenpick Resort & Spa Karon Beach

Furthermore, InterContinental Hotels Group plans to buy luxury hotel brands as part of a wider strategy to boost its presence in this segment, in which some preliminary discussions have already been held.