As a part of an expansion plan, the two hotel chains have entered into a partnership to increase presence in the Luxury segment. Under a long-term joint venture, both the hotels intend to collaborate, develop and manage Rixos branded resorts & hotels worldwide. Upon closing, AccorHotels will own a 50% interest in the joint venture management company. Through this joint venture, AccorHotels will integrate in its network 15 iconic hotels that are ideally located in premium resort markets in Turkey, UAE, Egypt, Russia and Europe and which benefit from strong room rate performance. As part of this transaction, Rixos plans to reflag five city-centre hotels to AccorHotels brands, which will also be managed by AccorHotels.