Five-star hotel The Grand Amsterdam hotel has been sold to an unknown party for €92m by the French hotel chain Accor, reports ANP news.

The takeover price for The Grand, in the capital’s former town hall, includes €32m for renovations.
The sale is in line with Accor’s strategy of selling off hotel properties while keeping operations in its own hands on a long term basis. Accor has signed a 25 year management contract for The Grand and will hold a 40% stake in the management company.