Alternative asset manager Blackstone is looking to sell 17 hotels in Germany, it is reported.
The 17 Germany hotels are part of a portfolio acquired from Accor in 2015 in a sale and franchise agreement, says Green Street News.
The hotels are believed to be marketed by JLL and CBRE at a guide price of around €160 million.
In April 2015 Accor announced the sale and franchise-back of 29 hotels in Germany and the Netherlands for €234 million. The selling price was 209 million, plus a commitment to a €25 million renovation plan.
The portfolio featured 12 Mercure hotels, 11 ibis, four Novotel and two two ibis budget properties.
