Welcome 21c Museum Hotels to the AccorHotels Family
AccorHotels recently announced that it has signed an agreement to acquire 85% of 21c Museum Hotels. 21c combines a multi-venue contemporary art museum, boutique hotels, and chef-driven restaurants, with 11 properties currently open and under development across the United States.
“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. 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.” Said Kevin Frid, COO, North & Central America, AccorHotels.
About 21c Museum Hotels
21c Museum Hotels was founded in 2006, in Louisville, by philanthropists and contemporary art collectors Laura Lee Brown and Steve Wilson. Inspired by the idea that art can ignite urban revitalization and catalyze civic connection, Brown and Wilson rehabilitated a series of 19th-century warehouses in Louisville’s downtown arts and theater district to open the first 21c Museum Hotel.
The success of the Louisville flagship created opportunities for expansion; today the company operates eight 21c properties in Bentonville, Cincinnati, Durham, Kansas City, Lexington, Louisville, Nashville and Oklahoma City, with 3 more in development in Des Moines, Miami, and Chicago.
“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.” Said 21c founder, Steve Wilson.
The purchase price for the 85% stake is $39 million, excluding potential earn-out. No real estate is included in this acquisition. The transaction should be completed during the third quarter of 2018.
21c Museum Hotels will join AccorHotels’ MGallery collection of boutique hotels, marking the introduction of the MGallery brand into the North American Market. This agreement will allow 21c Museum Hotels to leverage AccorHotels’ leading global hospitality platform while retaining its independent spirit.
“This is very exciting news for 21c Museum Hotels – who recently joined The American Meetings Network as a Prime Supplier Member. We look forward to seeing the positive impact this deal will have on the future of the 21C Museum Hotel brand.” Said Paul Steinmetz, Director of The American Meetings Network.
Interested in becoming an American Meetings Network Prime Supplier Member?
Contact Paul Steinmetz, Director of The American Meetings Network by phone at (954) 440-1274 or email at email@example.com