AccorHotels Is Set to Acquire 21c Museum Hotels
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AccorHotels has officially released a statement confirming plans to buy 85% stake in 21c Museum Hotels — worth a casual $39 million — during the third quarter of 2018. Now, 21c’s unique collection of about a dozen properties (some functional, some in the works) will be added to Accor’s MGallery portfolio.
21c Museum Hotels is a boutique brand that offers a next-level art experience comprised of art from (you guessed it!) the 21st century. The hotels have unique art museums in them that are free to the public. AccorHotels shared that the boutique brand is actually “one of the largest contemporary art museums in the United States, and North America’s only collecting museum dedicated solely to art of the 21st century.”
AccorHotels itself made TPG’s roundup of best hotel loyalty programs in the world, so TPG is hoping the marriage will be a happy and healthy one.
Naturally, when boutique brands are acquired by larger hotel chains, consumers tend to worry about the authenticity being compromised. The same concern arose when Kimpton was acquired by IHG back in 2014.
AccorHotels’ statement on the matter seems to diffuse that worry by implying a sense of consistency in product on 21c’s end with the acquisition. “This agreement will allow 21c Museum Hotels to leverage AccorHotels’ leading global hospitality platform while retaining its independent spirit,” the press release read.
The original founders, Laura Lee Brown and Steve Wilson, will maintain the rest of the stake in the company and will continue to be involved in the process of “art, design and hospitality” for the 21c Museum Hotels. In a statement, founder Steve Wilson reassured that, “we are confident that the unique spirit of 21c will not only be preserved, but will flourish within the MGallery collection of boutique hotels.”
President and CEO Craig Greenberg will also maintain his position, and the 21c headquarters will remain in Louisville, Kentucky.
Now, the questions lie in how the 21c Museum hotels will be integrated into AccorHotels’ loyalty programs. It just might make the hotels more attractive for points and miles junkies like our beloved TPG readers.
Featured image by 21c Museum Hotels.
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