AccorHotels to buy Swissôtel, Fairmont, Raffles

Three iconic brands shift ownership in luxury hotel deal
An unrivalled collection of iconic hotel assets under the brands Fairmont, Raffles and Swissôtel, with 155 hotels and resorts of which 40 are under development, is to be bought by AccorHotels in a €768 million deal, it has just been announced.
The French hospitality giant signed the deal with the Qatar Investment Authority, Saudi Arabia’s Kingdom Holding Company and Oxford Properties, for the acquisition of FRHI Holdings Ltd, the three brands’ parent company.
“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,” said Sébastien Bazin, chairman and chief executive officer of AccorHotels.
The three luxury brands have more than 56,000 rooms, with around 13,000 under development, and include such well-known properties as Raffles Singapore, the Savoy in London, Shanghai’s Fairmont Peace Hotel, the Plaza Hotel in New York and Le Royal Monceau Raffles Paris. FRHI has more than 45,000 employees under the brands.
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