AccorHotels has sold a majority 55 percent stake in its portfolio of owned hotels for about $5.4 billion to a group of international investors. The hotels had been owned by AccorInvest, a stand-alone division of the company. Sébastien Bazin, CEO, said the sale will provide AccorHotels with “substantial leeway to enhance our dynamic growth and innovation strategy and create value for shareholders.” For its part, he said, AccorInvest will take advantage of its new shareholders’ support, as well as a strengthened financial structure “to execute its roadmap and continue to reinforce its portfolio of assets.” The hotels sold by AccorInvest will be operated by AccorHotels under long-term contracts, namely 50 years (including a 15-year renewal option) for luxury and upscale hotels and 30 years on average (including a 10-year renewal option) for hotels in the midscale and economy segments.