AccorHotels has announced its acquisition of an 85-percent stake in 21c Museum Hotels. The 11 experiential art-driven properties will join AccorHotels’ MGallery collection of boutique concepts. Slated for closure in the third quarter of 2018, the $51 million agreement will therefore mark the entrance of the MGallery brand into the North American market.
“We are delighted to welcome 21c Museum Hotels as part of the AccorHotels family of brands, hence strengthening the Group’s footprint in North America in a very unique and promising niche,” says Kevin Frid, COO for AccorHotels North and Central America. “Together, we have a tremendous opportunity to grow the 21c brand, as well as introduce MGallery into the North American market, building both brand equities and further expanding the full range of unparalleled experiences for our guests. This strategic acquisition marks a new step in AccorHotels’ strategy of being the leading player in the luxury and lifestyle segment in North America.”
21c founder Steve Wilson adds, “21c Museum Hotels is proud to announce our entry into the AccorHotels family. AccorHotels is one of the world’s leading hotel operators and will be a perfect partner and catalyst for 21c’s continued growth. We are confident that the unique spirit of 21c will not only be preserved but will flourish within the MGallery collection of boutique hotels. 21c will continue to bring the work of today’s most dynamic and engaging contemporary artists to the public, and this partnership will be a tremendous boost for 21c’s continued development in North America and abroad. We are extremely excited to see what the future holds.”
