July 27, 2016
AccorHotels (ACCP.PA) said on Wednesday it had entered exclusive talks to buy concierge service provider John Paul, as it pushes further into new hospitality services and beefs up its response to the challenges of Airbnb. Under the terms of the deal, AccorHotels – the world’s fifth-largest hotel group – will acquire 80 percent of John Paul for about $150 million in equity and debt, with the company’s chief executive and founder David Amsellem keeping the remaining 20 percent, AccorHotels said in a statement. “With John Paul we will be able to provide services to people who never came to AccorHotels,” AccorHotels Chief Executive Sebastien Bazin told a conference call. John Paul offers concierge services managed online to some 3 million clients, mostly in the banking, car, travel and luxury sectors….
Source: http://www.reuters.com/article/us-accorhotels-m-a-johnpaul-airbnb-idUSKCN1070XW