AccorInvest, a hotel investor, owner and operator, completed the acquisition of an 85.8% stake in Orbis, that invests in the construction and modernization of hotels, from Accor, a French multinational hospitality company, for €1.1bn. This completes the Orbis transaction, following the acquisition by Accor of Orbis’ Management and Franchise business last October for €286m. “We are thrilled to integrate Orbis which has a great portfolio of assets and a long-time expertise in real estate and lodging sectors across key markets such as Poland, Hungary and Czech Republic. This acquisition enables AccorInvest to reinforce its presence in Europe and confirm its position as the leading hotel owner & operator in Europe,” John Ozinga, AccorInvest CEO.