[...] Accor Sells Sofitel The Grand (Amsterdam ) Under a Sale and Management-Back Agreement for € 92 Million As part of the ongoing implementation of its "asset-right" strategy, Accor a nnounced today that it has sold the Sofitel The Grand hotel in Amsterdam under a sale and management-back arrangement. The transaction is based on an enterprise value of €92 million. Accor sold the Sofitel The Grand for a consideration of €60 million (€330,000 per room ). The buyer has agreed to finance €32 million in renovation work. Includ ing the renovation costs, the total price per room comes to €505,000. Accor will continue to run the hotel under a 25-year m anagement contract and retain a 40% interest in the owning company. The transaction will have a €68 million impact on adjusted net debt. The transaction is aligned with Accor's luxury hotel asset management strategy, which is designed to reduce capital intensity and earnings volatility by selling hotel pr operties while continuing to manage them [...]