AccorInvest, a hotel owner-operator company that global hotel group Accor created in 2017, is seeing a rising share of its outstanding debt owned by one player, the hedge fund Sculptor, Bloomberg News reported on Tuesday.

Sculptor “bought about half of the €270 million ($290 million) of loans previously owned by UniCredit SpA in recent weeks,” Bloomberg reported on Tuesday.

AccorInvest wants to sell more than $2 billion of hotels in Europe and Latin America and extend the maturity of more than $4 billion of debt.

AccorInvest is a hotel owner and operator that, as of September, runs about 750 hotels. Accor, on the other hand, creates and manages brands and a loyalty program while also offering technology and other services.

Hedge Fund Sculptor Buys More Loans From Sofitel Hotels Owner Ahead of Refinancing

Tags: accor, debt, news blog