The hotel group indicates that the structure will be dedicated to activities related to its core business, such as catering or entertainment and events. SPAC will be listed on Euronext in Paris.

The trend towards SPACs, which are often promoted by financial and business figures, also concerns commercial companies. 

Accor announces its intention to sponsor a corporate Special Purpose Acquisition Company (SPAC) called Accor Acquisition Company (AAC). 

The objective of AAC is to raise approximately 300 million euros. Accor's initial investment in the new entity will not be significant, it said.

 "Through the creation of AAC, Accor aims to further enhance its offering to owners and customers. The aim is to provide them with additional high-quality, recognized services and brands in one of the following five sectors of activity related to its core hotel business:

• Food & Beverage;
• the flex office ;
• wellness ;
• entertainment and events;
• technologies related to the hotel industry", the hotel group explains.  

These SPACs are companies with no commercial activity that go public to finance the acquisition of one or more unlisted companies that are not yet known to investors at the time of listing, although the investors have a say or vote in the investment made. 

"The company to be acquired by AAC will benefit from Accor's network, scale and global presence."the statement said.

AAC will be managed by Amir Nahai, Chief Executive Officer of the Food & Beverage and Lifestyle brands group, with the support of three Accor senior executives: Pierre Boisselier (Chief Financial Officer), Nicolas Broussaud (Chief Investment Officer) and Besma Boumaza (General Counsel).

The structure will be listed on Euronext Paris, whereas the Amsterdam Stock Exchange had been preferred by some recent developers in Europe. 

Last month, the Autorité des marchés financiers (AMF) indicated that the French regulatory framework was adequate to accommodate SPACs on the Paris Stock Exchange and to protect investors. 

Innovative tools, these SPACs are sometimes perceived as a sign of stock market exuberance.