European hotel group, Accor has bought a 35% stake in French boutique chain Mama Shelter, in a bid to speed up the international expansion of the brand.
The Mama Shelter family was founded in 2008 by the Trigano family, also behind the all-inclusive holiday pioneer Club Med, and now aims to open 20 hotels worldwide over the next five years with Accor’s backing, including one in London.
The first Shelter will launch in Los Angeles in February 2015.
The financial terms of the deal were not disclosed, but Mama Shelter founder Serge Trigano told Reuters on Tuesday that opening a hotel costs between 15million and 25million Euros.
The Mama Shelter portfolio currently has five hotels – in Paris, Bordeaux, Lyon, Marseille and Istanbul – totalling 633 bedrooms. The brand aims to offer ‘urban retreats’ on a budget to young people, business travellers as well as families in often non-touristic locations.
Sébastien Bazin, chairman and CEO of Accor said: "This agreement is the outcome of a beautiful encounter and a shared desire to learn from our respective talents. I am very happy to be embarking on this new adventure. Thanks to this partnership, Accor is enriched by the original know-how that has made Mama Shelter such a splendid success."