AccorHotels acquires FRHI hotel group in £1.91bn deal

AccorHotels has purchased FRHI Holdings Ltd, parent of Fairmont, Raffles, and Swissôtel, in a deal worth £1.91bn.

The Savoy, London
The Savoy, London

FRHI includes three global luxury hotel brands – Raffles, Fairmont and Swissôtel. It has 155 hotels and resorts and more than 56,000 rooms in its portfolio, which includes famous properties such as The Savoy in London, Raffles Singapore, Shanghai’s Fairmont Peace Hotel and The Plaza Hotel in New York City. FRHI’s hotels and resorts span 34 countries across five continents.

The acquisition of these three global brands is intended to strategically enhance AccorHotels’ brand portfolio, and will provide it with a better-balanced business profile, broadening its footprint in the luxury segment.

Sébastien Bazin, chairman and CEO of AccorHotels, said: "This is an outstanding opportunity to add three prestigious brands – Fairmont, Raffles and Swissôtel – to our portfolio, and a great step forward for AccorHotels.

"It offers us robust and global leadership in luxury hotels, a key segment in terms of geographic reach, growth potential and profitability, for long term value creation. In addition, the deal allows us to strengthen our human capital with FRHI’s widely respected and talented global workforce, which has a proven track record in operating and marketing luxury hotels."

More:

Fairmont opens Claremont Club & Spa in California

60 seconds with... FRHI's Jennifer Fox

In Pictures: FRHI Hotels & Resorts Global Meeting Exchange

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