Fusion & Acquisition

🍔 AG Real Estate France signed a 10-year commercial lease with Five Guys France on October 1, 2024, for a location at 13 Place de la République, Paris. The 640 m² restaurant marks the brand's 33rd establishment in France and its second flagship in Paris after the Champs-Elysées venue. The historic Haussmannian building, constructed in 1879, offers 2,400 m² of commercial space. The site was previously home to retailer Tati and was acquired by AG Real Estate France in 2011.

🏡 Accor's Handwritten Collection expands to Croatia with the Hôtel Continental in Rijeka, marking its first property there. The 135-year-old landmark will undergo renovation and rebranding for a mid-2026 opening as a 75-room hotel, blending history with modern design. Launched in 2023, Handwritten Collection has introduced 17 properties globally and plans 25 more soon, with over 150 in development, aiming for 250 boutique hotels by 2030. The expansion includes new properties like Classic Hotel Nicosia, Adorn Tirana, and MUZE Hotel Düsseldorf.

📢 Naboo, after a 300% growth in 12 months, acquired BizMeeting, a Venue Finding agency from Joy Group, to aim for leadership in BtoB events in France and Europe. The Joy Group now focuses on their SaaS, Joy.io. Naboo experienced a growth of 20% per month between April 2023 and April 2024, hired 50 new staff, and reached €3 million in monthly bookings. Naboo's growth is supported by a one-click reservation platform and partnerships with over 50,000 European providers. In February 2024, Naboo raised €7.5 million from ISAI, Kima Ventures, Better Angle, Cap Horn, and Ternel.

🏨 Hamilton Pyramid Europe and Axiom Hospitality merged, expanding Pyramid's European portfolio by over 30 properties, managing more than 48 hotels and over 8,000 keys. Post-integration by early 2025, Jamie Lamb and Alex Pritchard of Axiom will lead the European business. CEO Warren Fields of Pyramid Global Hospitality emphasizes operational excellence and customer results. The merger integrates two similar organizational cultures, focusing on 'people first'. The market is expected to experience their expertise in the coming months and years.

🏖️ The Swiss retail giant Migros is restructuring to focus on its core businesses and intends to sell its tourism branch, including Hotelplan and Interhome. German group HomeToGo is in non-exclusive talks to acquire Interhome Group, Hotelplan's subsidiary, which boasts 40,000 properties across 20 countries and reported a 2023 revenue of €415 million. HomeToGo is a leading vacation rental search engine with 15 million listings. The sale process for the Hotelplan group is advanced and has attracted significant interest.

🚢 Le Groupe Beneteau ceded its Habitat activity to Groupe Trigano, approved by the Autorité de la concurrence. Negotiations started on May 5, 2023, with the transfer of 100% of BIO HABITAT, including O’HARA, IRM, and COCO SWEET brands, and all employees in France and Italy. The operation aims to refocus on nautical activities and accelerate the growth and premium positioning of Beneteau's 9 boat brands.

🏁 Alphabet's subsidiary, Waymo, raises $5.6 billion to expand its autonomous taxi network, currently operating in San Francisco, Los Angeles, and Phoenix. With previous funding of $5.5 billion since 2020 and backers like Andreesen Horowitz, Silver Lake, and Tiger Global, Waymo's total raised is $11.1 billion. The funds will accelerate deployment in U.S. cities, including Austin and Atlanta, in partnership with Uber, improving the Waymo Driver software and supporting over 100,000 weekly rides.

📢 AAK has agreed to sell its Foodservice site in Hillside, New Jersey, USA, as part of its portfolio strategy to optimize Foodservice operations. The binding transaction with Stratas Foods LLC should close by year-end, subject to standard conditions. Hillside accounts for ~5% of AAK's volume and ~1% of operating profit. The sale is expected to yield a one-time cash inflow of approximately 600 million SEK and should improve group operating profit per kilo by ~4%.

🏢 Arabian Travel Market (ATM) partners with the International Congress and Convention Association (ICCA) for ATM 2025, aiming to expand the business events sector. ATM 2025 will feature IBTM @ ATM, a dedicated business events showcase. As the official partner, ICCA will conduct sessions on global business event trends, including sustainability, digital transformation, and AI integration. Additionally, ICCA will facilitate international association buyers' participation, showcasing the region's offerings to event organizers. The partnership underscores ATM's commitment to driving tourism through substantial business events, with the industry projected to reach $1.5 trillion this year.

🏥 On October 16, the Club des Directeurs de la Restauration et d’Exploitation (CDRE) Île-de-France hosted a gathering at the H4 Wyndham Paris Pleyel Resort's 40th-floor panoramic bar with Lars Hallier and Maxime Bonvoisin. About 50 attendees, including hospitality schools like UTEC Emerainville, Ferrandi Paris and Bordeaux, EPMT, and Alexandre Dumas, joined partners and journalists. Béatrice Gravier, Director of Equip’Hotel, will welcome CDRE members on November 4.