PARIS — AccorHotels has signed an agreement to acquire FRHI Holdings Ltd (FRHI), the parent company of the Fairmont, Raffles and Swissôtel brands, subject to the regulatory approvals of the antitrust authorities. This will bring the AccorHotels portfolio to 500 luxury and upscale properties and make it one of the key global players in this segment
“This is an outstanding opportunity to add three prestigious brands — Fairmont, Raffles and Swissôtel — to our portfolio, and a great step forward for AccorHotels,” said Sébastien Bazin, chairman and CEO of 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. The transaction will also enable the group to consolidate its shareholder base, with the arrival of two high-profile investors that both have extensive expertise in the hospitality industry.”
The acquisition demonstrates AccorHotels’ agility in a fast-changing industry and allows it to more effectively support guests, clients and hotel owners. “Through it, we are positioning ourselves as a key player in the current industry consolidation process while maintaining substantial leeway to implement our transformation plan,” he said.
FRHI boasts 155 hotels and resorts (40 of which are under development), and more than 56,000 rooms (approximately 13,000 of which are under development). Its portfolio includes such legendary properties as Raffles Singapore, The Savoy in London, Shanghai’s Fairmont Peace Hotel, The Plaza Hotel in New York, 3 Le Royal Monceau – Raffles Paris, Fairmont San Francisco, Fairmont Banff Springs (Canada), Fairmont Le Château Frontenac in Quebec, the Fairmont Grand Del Mar in San Diego, and Swissôtel The Stamford in Singapore.